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Costs

WHAT ARE THE COSTS OF THE ACQUISITION IN SPAIN?

For a new purchase, that is to say a first transmission, it takes more or less 14% of the selling price.

For a property called “resale”, that is to say at least a second transmission, it takes between 12% and 14% of the selling price, depending on the region.

These fees include: VAT, registration of the deed, legal fees, and ancillary costs (notary, tax register, tax stamp, …)

RESALES

BRAND NEW

  • 10% VAT
  • 1.5% Registration Fees
  • 1.21 VAT lawyer
  • Additional costs

ANNUAL FEES RELATED TO THE PROPERTY

It takes about 2,500 € recurring costs per year based on a two-bedroom apartment. This sum includes taxes (real estate tax and non-resident tax), but also recurrent costs such as co-ownership charges, content insurance, and municipal tax.

Want to have more information on non-resident tax and taxation in general? Click below.

ANNUAL COST: APPROXIMATELY € 2,500 ALL INCLUSIVE.

  • 30 € to 140 € / month: Expenses of cp-property
  • 200 € / year: Content insurance (civil liability, fire, …)
  • 100 € to 120 € / year: Municipal tax
  • 300 € to 900 € / year: Property tax
  • Non-resident tax 24, 75% of 1.1% of the cadastral value of the property

Good news: since January 1, 2016 (effective for the year 2015), the tax rate of non-residents has increased from 24.75% of 1.1% of the cadastral value of the property to 19.5% 1.1% of the cadastral value of the property.