The Cost of Buying Resale Properties in Spain

• Transfer tax (7% of the purchase price)
• Notary fees (1% of purchase price)
• Land registry charges (Around 60% of the Notary Fees)
• Solicitors fees (1% + VAT of purchase price approx)

There are extra costs incurred for arranging a mortgage on a property. These are:

• Bank valuation fee (% of property value normally 300-750 euros but can become 1% for larger properties)
• Bank arrangement fee (Typically 1-2% of mortgage amount)
• Stamp Duty (Impuestos Actos Juridicos Documentados – 1% of mortgage liability)
• Notary fees (% of the mortgage liability and as such 67.61 euro plus between 0.0338% to 0.023%)
• Property register fees (% of mortgage liability and are 18.03 euro plus between 0.131% to 0.015%)

Commercial Premises

For the purchase of a land plot or commercial premises or a garage the rate of IVA is 16%.

Other Notes

For buyers under the age of 35 purchasing a property that will be their main residence the transfer tax is reduced to 3.5%.