We’re often asked about the buying costs when purchasing a property in Spain. The single biggest cost is the purchase tax which on a second-hand property varies from around 7% to 11%. In our region, of Andalusia, it is 7% but remember, this is the registered or catastral value, not necessarily the price you are buying the property for. If the catastral value is higher than you think it should be, you can appeal and if you win the extra tax you have paid, will be refunded.
Example (estimated costs):
House value €125,000
Purchase Tax €8,750
Notary fee €700
Land Registry fee €500
Solicitors’ fees €1,500
Miscellaneous €1,000
Total €12,450 (10%)
Other costs when buying second-hand in Spain are Notary fees which vary according to the price of the property but are around €800 for an average house in this region. Then you´ll have to pay for Land Registry which again, is dependent on the value of the property but around €500 for an average house. Solicitor fees in the Almeria region are usually around €1,500 so in total, expect to pay around 10% or 11% of the purchase fee in costs. For very cheap house the percentage will be higher.
In my experience,. there are usually some additional charges to take into account, for bank fees, couriers, POA´s, electrical or water connections etc. Hence, I have inflated the total by €1,000 as a miscellaneous charge.
Some estate agents also charge buyers, but this is rare in the Almeria region. We certainly don´t!