In general, the cost of purchasing a property in Spain will be in the region of 10% to 15% of the purchase price of the property in this region of Spain, depending upon;

• The complexity of the purchase.
• Whether or not you as the purchaser are raising finance via a mortgage.
• Whether the purchase is off plan or is a resales property.

The cost is made up of the following;

The Notary
For the purchase only, not for the mortgage - the Notary will make a second charge if you have a mortgage). The Notary charges a standard fee which varies according to the amount of land, the size of the property and its declared value.

• 300 to 600 Euros

The Registry Fee
This enables the property to be registered in your name in the official property register

• 300 to 600 Euros

The Transfer Tax/IVA (Spanish VAT)
To be correct this is ‘Transmisiones Patrimoniales’ and is 7% of the value declared in the contract, but if the property is brand new (i.e. not a ‘Resale’ property) and bought from a builder or developer, this Tax will be in the form of Spanish VAT, called IVA.

• 7% of the declared value

The Document Fee
This is the Spanish equivalent to the UK’s stamp duty.

• ½% of the declared value

Plus Valia (Municipal Tax)
This is a tax on the increase in the value of the property since its last sale. It can vary between 10% and 40% of the increase, but depends upon the length of time since the last sale and varies even between one town and the next. It is possible to enquire at the local municipal tax office in advance to ascertain the possible amount of tax that this will be.to 40% of the increase in value of the property

• 10% to 40% of the increase in value of the property

Your own lawyer
Unless there are unusual circumstances your lawyer will usually charge 1% of the purchase price.

• 1% of the purchase price