What are the buying costs for property in Spain?

Spain Buying, Moving, Owning & Living Overseas What are the buying costs for property in Spain?

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  • #120322
    hottbabixz

      Hi all,
      Finally saved up enough pennies to buy a property in the Marbella area. Can anyone give me a breakdown of buying costs?

      I was advised to set aside about 15% of the purchase price. It seems a lot so want to know what it covers.

      Thank you advance

      Shania

      #120688
      SoFinest

        This rough guide will give you an idea of the costs of buying property in Spain.

        New Properties allow for 14.2% of the property cost. If you seek a mortgage your costs increase to about 17%.

        Costs include stamp duty, legal fees, notary and registry fees, documentation eg power of attorney, NIE application and certificates.

        Resale properties allow for 11% of the property cost. If you seek a mortgage your costs increase to around 14%.

        Costs include transfer tax, legal fees, notary fees, documentation eg NIE applicaiton and certificates, power of attorney.

        Best advice, I can give you. Make sure you get the right help.

         

        #120936
        hottbabixz

          Wow! I didn’t realise it was going to be so much.

          Is there anyway I can reduce the costs, without reducing the risks?

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