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Taxes on property purchase in Spain
Posted: Fri May 7, 2021 10:46am
Hi my name is Mouna. I would like to know the taxes that must be paid when purchasing a property in Spain. Thank you
Posted: Fri May 7, 2021 1:05pm
Hi Mouna,
It depends on whether you buy new or resale and the province you buy in. A guide for you is 10-13% extra to the property cost with notary, lawyers etc and also if you need a mortgage there will be a set up charge of 1% or so.
We usually advise 15% as a guide to cover yourself and receive change.
Posted: Fri May 7, 2021 3:31pm
Super helpful member
Confirming the foresaid, I would add another 5% for mortgage cancellation fees.
Posted: Sat May 8, 2021 5:08pm
Legendary helpful member
Hi Mouna,
In C.Valenciana region, ITP (property transfer tax) is calculated at 10% of the purchase price. Then allow another 3-4% for fees, i.e. lawyer, notary, and land registration.
Kind regards,
Kim
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