Hi,
Now I'm retired, we are thinking of moving to Torrevieja next year after renting first and getting to know the area.
I have to do a fair bit of research but I hope you can help me with this question. I read somewhere that the costs associated with buying a Spanish property are "hefty". Can anyone tell me approximately how much I would have to add to a £150,000 purchase price?
Thanks,
Tony and Michelle
Posted: Sat Jun 8, 2019 10:11pm
Very helpful member
12.5 - 13% Extra
Stamp duty and all legal conveyancing fees
Posted: Sat Jun 8, 2019 10:56pm
Thank you, that is quite hefty, almost £20,000 on an £150,000 purchase.
Posted: Sat Jun 8, 2019 11:15pm
Very helpful member
10% Stamp Duty. Bit steep compared to the UK.
Posted: Sat Jun 8, 2019 11:36pm
Just a bit lol, £15,000 in Spain, £500 in the UK on an £150,000 property. I had. no idea it was so expensive, thanks for the info.
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Posted: Sun Jun 9, 2019 8:59am
Super helpful member
Not a lot of people do realise all the add one , they watch TV programmes like a place in the sun but they never say they need an extra say 13% on top of asking price l!! Bit of a shock to the system !!.
Posted: Sun Jun 9, 2019 9:46am
Yes, you just described me lol
Just buying myself, am I right in saying there is VAT on the stamp duty, @ 20% , another 3000 Euros, that's why you need to add at least 13% on to the cost, also if buying for less say 80000 Euros due to fixed costs , you probably need to budget 15% extra I stand to be corrected.
Posted: Sun Jun 9, 2019 11:24am
Very helpful member
No incorrect.
10% Stamp duty no vat.
Roughly 1300 -2000e for legal fees and notary 2-3%
Its only 15% if your getting ripped by the solicitor managing the purchase
Love to be corrected if it is saving me money. Statement not very clear , was going to contact solicitor tomorrow to clarify so you have saved me a job. Thanks for that. Sure this is what the forum is all about, everybody helping each other, also sometimes not having to wait over weekends to get an answer. Thanks again 271935 .
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