Buying Costs In Spain
All costs of buying property in Spain explained
Buying costs in Spain. Buying a property in Spain is a dream for many, whether it’s a holiday home on the sunny Costa del Sol, a modern apartment on the Costa Blanca, or a tranquil finca in Andalucía. However, understanding all the costs involved is essential to avoid surprises and make a confident investment. At Red Rose Property Spain, we guide international buyers through every step of the process, ensuring transparency and peace of mind.
Buying costs in Spain - Property Price
The first and most obvious cost is the purchase price of the property. Prices vary depending on location, type of property, and market demand. Coastal areas like Costa del Sol, Costa Blanca, and Costa de Almería generally command higher prices than inland towns and villages.
Taxes When Buying a Property in Spain
Spanish property buyers must account for several taxes, depending on whether the property is new or resale:
Resale Properties (Second-Hand Homes)
- Transfer Tax (ITP): Typically ranges from 7% to 10% depending on the region.
- Andalucía (Málaga, Granada, Almería): 7%
- Murcia: 8%
- Valencia (Costa Blanca): 10%
New Build Properties
- VAT (IVA): 10% of the property price for residential property.
- Stamp Duty (AJD): 0.5%–1.5%, depending on the region.
Notary Fees
After the notary signing, the property must be registered in your name at the Land Registry. This usually costs €400–€600, depending on the property size and region. Registration ensures your legal ownership is recognized in Spain.
Legal Fees
Hiring an independent Spanish lawyer is strongly recommended. Legal fees are usually around 1% of the purchase price and cover, we can help you with an independent lawyer:
- Due diligence and title checks
- Verification of outstanding debts or charges on the property
- Assistance with NIE application and Power of Attorney
Mortgage costs
If you need financing, Spanish banks usually require residents to borrow up to 70% of the property price, and non-residents up to 60–65%. We can help you obtaining a mortgage. Additional mortgage costs can include:
- Valuation fee: €400–€600
- Arrangement fees: 0.5%–1% of the mortgage amount
- Bank charges: depending on the lender
Ongoing Buying Costs In Spain
After buying your Spanish property, there are recurring costs to consider:
- Property taxes: IBI (Impuesto sobre Bienes Inmuebles), usually 0.4–1.1% of the cadastral value
- Community fees: if you buy in a residential complex or urbanization
- Utilities: water, electricity, gas, and internet
- Insurance: home and content insurance
Optional Buying Costs in Spain
Some buyers may also want to budget for optional costs such as:
- Renovation or refurbishment
- Interior furnishings
- Property management services for rental properties
How Red Rose Property Spain Can Help
Navigating the costs of buying property in Spain can be complicated, but Red Rose Property Spain ensures every step is clear and stress-free:
- Expert guidance on taxes, notary, and registration
- Support with mortgages and legal paperwork
- Transparent breakdown of all fees and ongoing costs
- Multilingual service for international buyers
“Buying a property in Spain should feel exciting, not overwhelming. With our years of experience and local knowledge, we guide you through every step, from initial search to handing over the keys.” – Catherine Palsrok, CEO
When it comes to buying property in Spain, the costs can sometimes feel overwhelming, from taxes and notary fees to legal assistance and ongoing expenses. That’s where Red Rose Property Spain makes the difference. We see ourselves not just as real estate agents, but as your trusted helper and friend throughout the entire process. Our goal is to guide you through every cost and step, offering clear advice, practical support, and honest insights so you can make confident decisions. We prioritize your needs over sales, ensuring that your journey to owning a home in Spain is smooth, transparent, and enjoyable.