What are the costs (buyer) When making a house purchase?

The cost of buying Spanish property

If you buying property in Spain then you pay a one-off fee. There is a distinction between the purchase costs of the Spanish home and at the cost of a mortgage with a Spanish bank. All costs for the buyer are never co-financed and you have to pay from your own funds.

• On average, the cost of buying a home is between 10-12% of the purchase price
• The cost of a mortgage is variable and consists of closing costs at the bank (0.5-1.5% of the mortgage amount), plus the cost of the (mandatory) valuation and any other banking products.

Note: purchase costs vary by region

The cost of buying a Spanish property varies between regions. The registration fee when selling your property ranges from 8% to 11%. Areas such as Costa Blanca and Catalonia are more expensive than more provincial regions such as Andalusia or Murcia. Additional costs vary by region (+/- 1.5%), for example notary and registration fees. In addition, new construction on the Spanish mainland is subject to a VAT rate (IVA) of 10%.