Buyers Guide

5. PROPERTY ACQUISITION COSTS ANDALUCIA – SPAIN

In every purchase, you will appreciate that, apart from the purchase price of the property, there are a series of related costs which are necessary when purchasing a property in Spain (Notary Fees, Registry, Registration, Transfer Tax, etc.).

Although we do not intend to replace the need for specialized and personalized attention from a qualified professionals when buying a property in Spain, our aim is to provide a general idea to the basic costs which may come up in a standard buying procedure.

TAXES RESALES

A Resale is defined as the acquisition of a property that had a previous owner, opposite to the acquisition of a property directly from the original developer.

A. For dwellings, the transfer tax is calculated as follows:

B. For Parking Spaces, the transfer tax is calculated as follows:

C. For acquisition of Regular place of residence, the transfer tax is: 6%

• Under 150,000.00 € value

D. For Younger than 35 years old, the transfer tax is: 3.5 %

• Under 150,000.00 € value
• Regular place of residence

E. For Disabled people, or Large family, the transfer tax is: 3.5 %

• Under 250,000.00 € value
• Regular place of residence

F. For Real Estate Professionals and Firms, the transfer tax is: 2%

2. TAXES NEW PROPERTY

A New Property is defined as the property that is acquired directly from the original developer.

A. For dwellings, the tax is: 11.2%

B. For acquisition of Regular place of residence, the tax is: 11.0%

• Under 150,000.00 € value

C. For buyers Younger than 35 years old, the tax is: 10.3%

• Under 150,000.00 € value
• Regular place of residence

D. For Disabled people, or Large family, the tax is: 10.1 %

• Under 250,000.00 € value
• Regular place of residence

E. For Parking Spaces acquired separate from the dwelling, the tax is: 22.2%

*IVA= Spanish Value Added Tax

**Acto Jurídico Documentado = Stamp Duty: Tax on Title Deed and Notarial documents.

3. TOTAL PURCHASE COSTS

To give you a general indication on the total purchase costs (taxes + costs), we would place those on the following scales:

As the purchase costs depend on variables such as price, structure of the operation, location of the property, etc., it will only be possible to offer a more accurate estimation when all details of the purchase are known.

The above includes taxes, notary, land registry, legal costs, formalities, connection of utilities, searching certificates, etc.

It does not include potential finance costs, such as valuation, mortgage opening fee, compulsory insurance, legal fees, etc.