Properties & investments in Spain
Tel: +34 670 314 200
+ 34 966 701 761
Costs in connection with purchase of property in spain
- When purchasing a property from scan properties s.L we include all the following to the costs of 11 %;
- Resale properties
- To apply a tax number " N.I.E-numero "
- To do a search of the dept situation in a land register " Nota Simple "
- Helping in opening a bank account
- Translation in the notary when signing a title deed
- Notary fees
- Transfer tax 8 %
- Land register
- The process of registering the property to new owners name
- Name changes; water-, electricity company, gas contract, community, local tax office
- Home insurance contract
- Lawyers fees of controlling the situation of the debts
- V.A.T. 10 %
- Stamp taxes
- Notary costs
- Registration charges
- Electricity connection charge:
- Water connection charge
- Plusvalia = tax on rise in value of land
- The above mentioned costs will be added in the price of the property and they form altogether approximately 11 % of the sales price / price of the property.
Annual running costs
- Cuota de comunidad = community quota ( covering the maintenance of common areas and costs such as gardens, swimming-pool, street lightning, vigilance etc.) Typically from approx. From 100 € to 500 €/ year
- Wealth tax
- I.B.I. = Local real estate tax: approx. 0,4% To 0,8% of your propertyâ´s taxable value ("valor catastral"
- Water and waste collection: basic costs aprox 10 € / month
- Electricity: basic costs aprox 10 € / month
- Insurances: from approx. 108 €