The cost of registration of ownership of real estate in Spain

• VAT (IVA):

- In buying a new building for individuals - 10%, for legal entities - 21% of the cost of real estate, specified in the contract of sale (escritura de propiedad);

- On the purchase of land not built by an individual to an individual - 10%, from a legal entity - 21% .

• The tax on transfer of property rights (ITP) in the purchase of real estate in the secondary market - 10%;
• Tax on documentary registration of legal acts (IAJD) in our region is 1%;
• Lawyers and interpreters services - 0.5% - 2%;
• Notary services - about 1% (depending on the size and complexity of the contract of sale, and the price of real property acquired according to the rate);
• Registering property transactions in the Register (Registro de Propiedad) - about 65% of the notary according to the rate of payment.

If you buy a property in a mortgage, then the expenses listed are added:

• Life insurance - the cost of insurance depends on many factors, ranging from the price of the property and ending with age, sex, health status of the insured. Insurance coast approximately 150 euros per person per year for a real property of 120,000 €;

• Home insurance - from 250 € / year;

• Fees for opening a bank loan.

See also:

Real Estate
Steps to buy a property in Spain: three steps to your dream
Types of property in Spain
Documents needed to buy a property in Spain
Obtaining a residence permit in Spain

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