VAT – 10% (valid for the purchase resale property)
VAT – 10% (valid for the purchase newbuild property)
Local tax – 1,5% (valid for the purchase newbuild property)
Notary costs about 800 € (depending the price of property)
Land Registry 350 €
Solicitor cost- 1200 €
Summary of costs
Fees and taxes when buying property in Spain should not exceed 11% in the case when you are buying a resale property , and about 12,5% in the case when you buy newbuild property from the builder.
Please do not forget the additional costs associated with servicing the mortgage – if it occurs. Start-up costs of the mortgage banking fees are around 2% on the price and are calculated individually for each property.