BUYING IN SPAIN
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 General Information for the Purchase of a Property in Spain

 
 

The system of property purchase in Spain is simple & safe and, as in the UK, a solicitor should always be employed to carry out searches and ensure everything is legal. There are many English-speaking solicitors on the Costa del Sol and we strongly recommend that a locally based firm of lawyers be used instead of a UK based lawyer who may not be familiar with Spanish Conveyance Law.

   


Developments/New property

Re-sales

   
1. I.T.P.(Transfer tax) None 7% of price
2. VAT (IVA) 7% of price None
3. Stamp Duty Approx. 0.5% of price 1%
4. Notary fees, etc. Approx. 0.5% of price Approx. 0.5% of price
5. "Plusvalia" A local authority tax based on the increase in land value of the property. Generally a small amount and payable by the vendor
6. Lawyer's fees Approx. 1% of price

Approx. 1% of price

 
Total Costs: Allow for an additional 10% on top of the purchase price. This should comfortably cover all additional associated costs.



 


 
BUYING IN SPAIN
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