Whether you buy an apartment, a villa or a finca, you will be faced with purchase costs in Spain; costs and charges you pay on top of the purchase price of your property. Examples of these purchase costs are taxes, lawyer fees and notary costs. On this page you will find an overview of the costs of buying property in Spain. Do you wish to know which recurring expenses you will have after you have bought a property? Then click here for information about housing expenses in Spain.
Take into account that the additional costs of buying property in Spain amount to approximately 11% of the purchasing price. These costs are made up of the following components:
If you have found a property you wish to buy, it is customary to have it taken off the market by signing a reservation contract. You then pay a deposit (depending on the purchase price you usually pay 3,000 euros to 6,000 euros) and the estate agent who sells the house then takes the property off the market. This gives your lawyer time to examine if everything is in order. Once you are sure everything is in order you will go to the notary, where you pay the remaining amount (your deposit will then be deducted from the purchase price) and the property will be transferred onto your name.
As a purchaser you pay no estate agent fees in Spain. These costs are paid by the seller of the property. The real estate agent who guides you through the purchase process shares in the commission of the estate agent who sells the house. If you buy a new development property, you also don´t pay any estate agent fees.