Expenses involved in buying a house in Spain

by | Mar 18, 2015 | Sin categoría

In addition to the cost of the property there will be some extra costs that you should keep in mind for your house-planning budget. We recommend that you consider another 13-15% of the total property price for additional administrative costs and taxes. Basically:

  1. External costs:
    1. Spanish Notary (aprox. 800 euros)
    2. Spanish Land Registry (aprox. 400 euros)
    3. Inscription Paperwork (aprox. 300 euros)
  2. Taxes:
    1. New building – IVA (VAT) 10%, Stamp duty (AJD) 1.5%
    2. Second hand Resale – ITP (Valencian transfer tax) 10%
  3. Other costs:
    1. Legal advice and assistance.
    2. Insurance policy, water and electricity services, etc…