|
Hidden Costs of Buying in Spain |
|
|
The system in Spain for buying a house is different!
There are a number of costs that you will need to pay in Spain over and above the price the estate agent gives you. Here is an example for a house of a notional purchase price of €175,000:
IVA 7% (Spanish VAT)
Payable on new properties.*
€12,250 Legal Fees Searches, Title Deeds & Translation for Notary Public
€900 Notary Public Preparing Deeds, Registration and Local Stamp Duty
€600 Utilities connection
€300
Total €14,050
*On properties that are already built and the vendor is not a builder or contruction company there is another tax, IBI, which is also 7% so you end with the same value.
|
