The Buying Costs in Spain

You'll need to allow an additional 12% to 14% of the purchase price to cover all fees and taxes, including the Notary and legal fees.

Notary's fees

The majority of the property purchase costs are calculated on a sliding scale according to the value of the property. The Notary is slightly different as the price will also depend upon the length of the contract and the number of purchasers.

Land Registry fees

Immediately after signing the Deeds and getting the keys, you'll need to be registered at the Land Registry as the new owner. How much you pay in Land Registry fees will depend on the complexity of the document and the process can take up to 8 weeks.

Transfer Tax

The amount of transfer tax payable will depend upon the 'declared' value of the property, in other words the value listed on the Title Deed. For example, tax on a property valued under 400,000€ is 7 per cent and if valued above 400,000€ the tax will be 8 per cent of the purchase price.

Lawyer's fees

Your lawyer will usually charge around 1 per cent of the purchase price + IVA.