Buying a Property in Spain

Information About the Additional Taxes when You Buy a Property in Spain

There are a number of taxes you will need to be aware of when you purchase a property in Spain.

This amount can be up to 13% of the title deed value.

10% “ITP” tax of the title deed value on a second hand property, and 8% VAT on new build properties, if this new build property is situated in the region of Valencia, you pay 1.5% VAT to the Valencia County as well.

The rest is to cover the notary fees, property registry fee and the paperwork is approximate 1% of the title deed value.

When you have received your original title deeds it is not unusual that you will be reimbursed a small amount that you have paid for the document action tax. This will be deposited in your bank account or you can collect it at the Public Notary office.

We in SOLALBIR will always give you a full informal balance before you purchase the property, so you will have an exact overview of all the expenses. We normally start the process with a deposit to pay, for a reservation and to secure that the seller do not sell the property to anyone else, this deposit is normally about € 3000, after we make a purchasing private contract between you and the seller.

After this two first steps, you have normally 10 days to for fill the down payment at 10 % (including the € 3000).

If you prefer to finance the purchase here in Spain, we can help you to find the best rates and conditions among the banks which are represented in this area. Normally the banks charges a percentage of the mortgage, as well.

We look forward to cooperate with you, and help you to find what you have dreamt about here in Spain, and remember that we in SOLALBIR will help you out with an excellent after sale service, from changing over all the regular contracts from the water, telephone- and electricity companies, from the previous owner and over to you. If you need some guidance to find the best gardener, pool service or a builder we in SOLALBIR will always be happy to help you out!

Contact us for more information.