Prices & Fees
All the prices on the website are before taxes and legal fees.
A guide to expenses for any purchase of Spanish property.
You should add: Either 8% ITP(!) when buying a resale property or 10%
IVA on new off-plan property or any property which has never been previously owned. If buying a new property in what may be classed as a tourist area then the IVA is charged at 21%.
Land registry, notary costs 1% to 2%. Solicitor /Legal fees. Which can be around €1,000 to €1,500 + IVA (VAT). 1% - 2% Stamp duty on new off-plan property or any property which has never been previously owned.
Buyers may have other expenses on completion. e.g. property insurance, If on a resort or communal area, first quarter's community fees.
If buying with a Spanish mortgage you should also factor in set-up fees and life insurance.
(!) ITP is charged by the regional government and applies to most of the properties on the website. However, if the property is direct from a developer, this is taxed by the national government and not the regional government. IVA (VAT) and not ITP then applies and this is 10% (not 8%).
2017 update MMV Minimum Market Value. All properties in Spain have MMV which the Spanish government set on each property. At this present time the vast majority of properties sell for slightly more than the MMV so the chances are this will not affect you. In a few rare cases e.g. If the property has been purchased at a heavily reduced price it is possible the MMV is higher than the purchase price. In this case the total tax you should pay is at the MMV price