One-time expenses (% of purchase price)
● ITP (tax on property transfers) 10%
● Notary fees ± 1% (Ex. VAT)
● Registration Fees ± 0.5% (Ex. VAT)*It is advisable to hire a manager
● Buyer agent fees may vary depending on the services you choose.
In addition to these costs, there are other documentation and processing costs for the client.
Optional
● Architectural report ± € 800,- (Ex. VAT)
● Appraisal report ± € 365,- (Ex. VAT)
Required only for foreigners
● N.I.E. number 2 options
1. In person by Consular Office (it may take up to 8 weeks)
2. In person in Spain bij National Police Report Simple note ± € 20
ANNUAL OBLIGATIONS
● IBI (municipal tax) annually between 0.4% and 1.3% of the taxable value
● Community expenses annually between 500,- and 2,000,- depending on how luxurious the property is.
● Maintenance annually ± 1% of the purchase price
● Garbage collection costs annually between 90.- and 170.- euros
● House insurance annually between 120.- and 200.- euros
If you rent your home: Property management annually between 3 and 12% of rental income. (Included or excluded required quarterly income tax return