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Costs of Buying Real Estate in Spain | Thinking Of Moving to Spain?

Costs of Buying Real Estate in Spain | Thinking Of Moving to Spain? We keep in mind that you have to take into account about 13% of costs on the purchase of a #ResaleProperty on the Costa Blanca and in the Comunidad Valenciana an about 14,5% for a #Newbuild., you will have to take into account a total of about 13% for a resale property in Spain and about 14,5% for a newbuild. This does include everything: notary fees, registration- and other taxes, stamp duty and the fees of a lawyer.  Below we will go through these items separately: - Notary fees: Depending on the purchase price, stated in the official deed, their fee will amount to a sum between € 600,- and € 875,- . A notary holds a public office and so these amounts are regulated. - Registration of the property: This is also regulated and, depending on the price of the property, the cost will be between € 400,- and € 650,- . - Transfer taxes / VAT: 10% of the purchase price:For newbuild this is VAT (IVA in Spain), for resale properties this is a transfer tax or ITP (Impuesto sobre las Transmisiones Patrimoniales). There are exceptions at lower rates, but these are extremely rare for 2nd residencies. - Stamp Duties (Actos Jurídicos Documentados or IAJD):These taxes are charged on new properties and they are calculated on the notary fee and on the registration tax. Every autonomous community has its own rates. These are between 0,5% and 1,5% of the purchase price. PURCHASE OF A PROPERTY IN SPAIN WITH A MORTGAGE - Valuation costs and administration costs:To  obtain a mortgage, the property will have to be valued. The average cost for a valuation would be between € 250,- and € 600,-. Be aware that most banks will charge administration costs. These will of course vary from one bank to another. - Registration taxes and notary fees:Like the property itself, the mortgage too will have to be registered. Naturally, you will have to count with the applicable registration taxes and notary fees. We keep in mind that you have to take into account about 13% of costs on the purchase of a resale property on the Costa Blanca and in the Comunidad Valenciana an about 14,5% for a newbuild. ✅ SUBSCRIBE TO OUR CHANNEL TO RECEIVE THE LATEST NEWS ON REAL ESTATE IN SPAIN ✅    / @zyachtinggolfestates   🔗 LINKS:   • Everything you need to know about buy...   ➤ About Us: https://realestateagentspain.com/en/a... ➤OUR SPANISH REAL ESTATE PORTFOLIO https://realestateagentspain.com/en/p... ➤ NEWS: https://realestateagentspain.com/en/c... ➤ ZY&GE FACEBOOK:   / real.estate.torrevieja.zyachting   ➤ZY&GE INSTAGRAM:   / zyachtinggolfestates   ➤ ZY&GE LINKEDIN:   / z-yachting-golf-estates   ➤ ZY&GE TWITTER:   / _zyge   ➤ FACEBOOK Property Alert Costa Blanca & Calida https://www.facebook.com/groups/22923... ➤ CONTACTEER US: https://realestateagentspain.com/en/c... 📞 : +34 966 925 328 📬 : [email protected] #HouseForSaleSpain #PropertyForSaleInSpain #HomesInTheSun #CostsOfBuyingRealEstateInSpain #SpainRealEstate #ForSale #BuyInSpain #NewBuildSpain #ResalesSpain #MovingToSpain #CostOfLiving #SpainPrices #SpainCosts #SpainFees