It is important that you are aware of the costs that are involved in buying a property in Spain. On average these expenses usually come to between 11% and 12% of the purchase price. You will be required to pay three fees and one or possibly two taxes which are explained below. Finally, some other miscellaneous expenses, which may be involved in the purchase of your property, are listed at the end of this section.

FEES

1. Legal Fees These fees usually amount to about 1% of the purchase price + VAT, but your legal costs could increase if complications arise during the transaction. Your lawyer should be able to give you a detailed estimate of the costs that are likely to ensue from your particular case.

2. Notary Fees This fee is fixed by an officially established scale which takes a number of different factors into account including the price of the property. The scale ranges from about €300 for lower priced properties to €1,500 for more expensive purchases.

3. Registro de la Propiedad Fees (The Property Registry) will also charge you a fee for entering your title deeds in the register. They use a scale that is related to the price stated in the title deed to assess the exact amount to be charged. This usually comes to about 80% of the fees you If you are buying a resale property your transfer tax will amount to 7% of the purchase price. If you are buying off-plan, purchasing directly from the developer, you also pay 7% of the purchase price, but this is charged as VAT (IVA).