Property Purchase Costs & Taxes
| TRANSFER TAX (I.T.P)Payable by the buyer for the purchase of any Real Estate (villas, flats, land, commercial premises, garages), provided the vendor is not a developer or normally trading in the business of resale properties. If the “minimum fiscal value” of the property as per the Regional Government, is greater than the price, then the minimum fiscal valuation applies: 8% is applicable up to the amount of 400,000€ or 30,000€ in the case of garages except those belonging to the dwelling and with a maximum of two; 9% is applicable to the amount between 400,000€ and 700,000€ or between 30,000€ and 50,000€ for garages; 10% is applicable to the amount exceeding 700,000€ or 50,000€ for garages. | Scaled at8%9%
10% |
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VAT AND STAMP DUTY
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10 % + 1.5%
21% + 1.5% |
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| NOTARY AND PROPERTY REGISTRY FEES The cost increases according to the number of pages or complexity of the title deed, and value of the property. | +/- € 3,000 | |
| MUNICIPAL ADDED VALUE TAX (PLUS VALÍA)This can be as little as a few hundred Euros or as much as many thousands of Euros on a property with a lot of land that has not changed hands in many years. It is a tax by the town hall based upon the increase in the index value of a property between the year of purchase to the year of sale. This tax corresponds, by its nature, to the vendor who is responsible for its payment, unless otherwise negotiated. | ||
| LAWYER’S FEESThese are in the order of 1% of the selling price, more or less, depending on the lawyer and the price of the property. | 1% | |
