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Costs when buying a property in Spain

Posted by Property Choice Spain on 31 January, 2019
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When looking to buy a property especially in a foreign country like Spain, it is important to know all the necessary information from professionals. You must understand the process of buying a property in Spain, all the costs, the area and type of property suitable for you. In this article I will outlay the costs involved in buying a property, you may hear a lot of people tell you to add on an extra 12%-13% of the sale price, this is somewhat true however to give you a better overview of everything involved continue reading below.



The main factor to consider when purchasing your Spanish property is finance. Initially you will want to figure out your budget considering all the extra costs that come when buying.

Let’s say for example, you are buying a property at 100.000€, I will lay out the different costs involved below to give you a quick view of what to expect:

  • Property Transfer Tax, in the Valencian region this is a fixed rate of 10% of the purchase price, so for your property of 100.000€ you will have to pay an extra 10.000€ tax.


  • Land Registry and Notary Fees, all properties in Spain are registered at the designated land registry. When you purchase a property the change of ownership is registered. An average cost for this registration for a property worth 100.000€ is approximately 500€. When you sign the new deeds of the property along with the vendor this will all take place in the local Notary. This verifies all the documents and legalises the transaction. The buyer is responsible for paying the fees and the notary charges. This will typically be around 700€ on a property being sold at 100.000€ but will increase with the value of the property.


  • Legal Representative, it is important you contract and experiences solicitor/conveyancer to represent you when buying your property. We work closely with a lady called Ingrid who has helped many of our clients purchase in Spain in the past and present, her fees are currently 1.000€ + IVA (21%)


  • NIE’s, when buying a property in Spain you must obtain an NIE number, this is a fiscal identification number and is required for legal matters, opening a Spanish bank and purchasing a property/car. We work with someone who can pick you up and take you to the office where the NIE certificates are granted then drop you back of afterwards with your NIE for 75€ per person.


  • Additional costs (Spanish mortgage), if you are buying with a mortgage from a Spanish bank there will be an additional cost. The bank will get a valuation of the property which will be paid by yourself, there will be a fee to arrange the mortgage and a mortgage stamp duty. If you have found your perfect property in Spain I suggest you speak to your bank in Spain to see about getting a mortgage before you move forward to make sure you get all the funding necessary.

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