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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  • 01/03/2022 at 5:59 PM #120322 Reply
    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

    29/03/2022 at 11:19 PM #120688 Reply
    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.

     

    07/06/2022 at 5:31 PM #120936 Reply
    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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