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