The true cost of buying property in Spain

Budget 10–14% of the purchase price on top for taxes and fees. Resales carry ITP purchase tax of 6–10% depending on region; new builds carry 10% IVA plus stamp duty. Since 2019, the bank pays most mortgage setup costs.

The one-line rule

If you remember nothing else: price + ~12%. On a €250,000 home, plan roughly €280,000 all-in.

Purchase taxes — the big one

Resales: ITP purchase tax set by region — Comunidad Valenciana 10%, Andalucía 7%, Cataluña 10%, Madrid 6%, Murcia 8% (verify current rates). New builds: 10% IVA plus ~1.5% stamp duty. This is why where changes your budget as much as what.

Worked example — €250,000 resale, Costa Blanca

ITP 10%: €25,000 · Notary + registry (buyer's share): ~€1,500 · Independent lawyer (~1%): €2,500 · Valuation: ~€450. Total: ~€279,450. With a 70% mortgage of €175,000, the cash you need is roughly €104,450.

What the 2019 mortgage law changed

Since June 2019, banks pay the mortgage's notary, registry, gestoría and stamp-duty costs. You pay the valuation (€300–600) and any opening fee — which many banks have dropped, and which we negotiate.

The running costs nobody budgets

IBI (annual property tax) €300–1,500 · community fees €0–250/month · insurance €150–400/year · the small non-resident tax even on an empty home. Honest total for a typical apartment: €2,000–4,000 a year.

And one cost that can save you money: if your funds aren't in euros, a regulated currency specialist instead of your bank routinely saves €2,000–4,000 on a €100,000 transfer. We'll introduce you — no commission to us.