Expenses when purchasing real estate - complete list
Understanding all mandatory payments when buying and owning property in Spain is essential for proper budgeting and avoiding unpleasant surprises.
One-time purchase costs
Depending on the property type, taxes differ:
• Resale property:
– Property Transfer Tax (ITP) — 7% of the price stated in the notarial deed (one-time payment).
• New builds:
– 10% VAT (IVA) + 1.2% Stamp Duty (AJD) of the property price (one-time payment).
Additional transaction costs
• Notary fees: from €600, depending on the property price and contract size.
• Land Registry: from 0.5% of the property price.
• Lawyer’s services: usually 1% of the property price (can vary up to 1.5%).
The lawyer checks legal status, debts, licenses, and ensures safe completion.
💡 Important:
On average, additional costs amount to:
around 10% of the property price for resale properties and around 13% for new builds.
Monthly and annual expenses
• IBI tax: from €500 to €3,000 per year, depending on the property and location.
• Basura (waste collection fee): €100–€200 per year.
• Utilities: from €100 per month.
• Community fees: from €100 per month up to €1,400 in premium complexes.