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Costs to Buy a Property in Spain with or without Mortgage: 10 to 13% of the Property Price

Costs to Buy a Property in Spain with or without Mortgage: 10 to 13% of the Property Price

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Are you planning to buy a property in Spain? Do you already have a clear idea of your budget? Are you sure you have thought about all the additional costs that are going to be added to the price of the apartment or house you will acquire?

The budget for a purchase of real estate in Spain does not include only the price of the property itself. Several additional expenses to the purchase price must be added: the taxes related to the purchase, the valuation of the property in the case of a mortgage on the property, notary expenses, lawyer’s fee, the estate agent commission, the cost of the mortgage …

It is important to distinguish 2 types of expenses: expenses for the purchase/ sale of the property and expenses related to the mortgage.

I. Costs on the property transaction

  1. Spanish Taxes
  • Taxes on Second-hand Home: the ITP

When an existing property is purchased, a tax on the transfer of the property called ITP (Property Transfer Tax equivalent to the Stamp Duty) is paid, the tax rate varies according to the region of Spain, it ranges from 4 to 10% on the sale price of the property.

itp cost per region

  • Taxes on a new built home: VAT and AJD

The most important tax called VAT (Value Added Tax) is paid at a rate of 10% throughout Spain, except in the Canary Islands, where there is a rate reduced to 6.5%.

In a new property there is another tax that is the AJD (Documented Legal Act) tax that also pays the buyer and the rate varies by region.



2. The notary

This expense is low and is regulated by an official state cost, usually from 600 to 950 euros, depending on the purchase price.

3. Property Registry Expenses

To register the act of buying the house from the registration of the property it is necessary to pay it according to an established table of approximately 400 to 650 euros.

4. The Gestoria

An agency can help you for administrative procedures will usually cost you about 300 euros.

5. Lawyer Fees

A lawyer is often used for the buyer and the seller they usually prepare the contract of sale and sale to go before the notary. Their fees are generally about 3,000 euros or sometimes 1% of the purchase price.

II. Mortgage Expenses

Spanish banks generally lend up to 50% of the price for a non-resident, and 80% for a Spanish resident. Please note that it is possible to obtain more contact us for more information.

At the rate level, there has been a big change since the new mortgage law of June 2019, most of the costs are now the responsibility of the bank to facilitate buyers’ access to the purchase. Notary fees, AJD Tax, Legal and registration taxes are now the responsibility of the bank. There is only one expense for the buyer, the appraisal. However, keep in mind that the bank sometimes makes a provision for some facts for the administrative costs of its agency.

Housing valuation: appraisal

To obtain a bank loan, the bank asks you to promote accommodation (an appraisal) by one of the companies that you recognize as valid on your list. It is usually better to choose it yourself. The cost is around 200 to 600 euros depending on the type and size of the property.

For more information you can call us at +34 930 185 648 or by email

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