What is the actual cost of buying a property in Spain?
Buying a property in Spain is in many ways different from buying a property in your home country, and to make it easier for yourself it is wise to familiarize yourself with the buying process before going on viewings. We in Costa Blanca Bolig are happy to help and answer any questions you may have, but we recommend all of our clients to have an overview of what the total cost of buying a property in Spain is. This makes is, among other things, easier for you to establish a budget.
When buying property in Spain, one must always add approximately 13 percent on top of the purchase price. 10 percent of these are taxes to the Spanish authorities, while approximately 1 percent is stamp duty. Furthermore, the 13 percent also include legal fees, notary, registration fees, NIE numbers, and changing water and electricity contracts. The additions may vary and depends on the purchase price of the property, but under normal circumstances the sum will not exceed 13 percent of the purchase price.
Below is an example:
| Purchase price | 250.000 € |
| Additional cost | 32.500 € |
| Total amount | 282.500 € |
| Explanation of additional costs | |
| 10 % VAT | 25.000 € |
| 1 % stamp duty | 2.500 € |
| Notarius | 1000 € |
| Registration fee | 750 € |
| NIE numbers (2 pcs a 75 €) | 150 € |
| Water and electricity contracts | 600 € |
| Legal fees | 2.500 € |
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