Counting the cost of buying in Spain

Buying your property in Spain

Conveyancing Thursday, June 20, 2013
Counting the cost of buying in Spain

Sometimes reading the press you get the impression that everyone has stopped buying houses in Spain. It’s not true. Foreign buyers have actually increased in relation to the number of Spanish buyers. Overall numbers have dropped but there are plenty of people who still want to buy their own property in Spain.

If you haven’t bought already then now is an ideal time. Property is being sold at bargain prices and there is plenty to choose from. As a buyer of Spanish property you can feel very much in control of the process, it really is your market and you can take your time to select, negotiate and hopefully end up with a deal you couldn’t have dreamt of 9 years ago.

However, it’s not just the actual cost of the house itself. There are all the associated costs that go with it. We take the view that it is always better to be transparent about the buying process and the costs related to it. With that in mind, here is a rough guide to the additional expenses you will incur when buying a property in Spain.

External costs

The largest external expenses are for the Notary and Land Registry:

  • The Notary – from 800 to 1,100€
  • Land Registry transfer – normally between 400€ and 800€

There are other, additional expenses that apply in some cases. For example, if you are wanting to purchase the property whilst still in the UK you will need a power of attorney to enable someone you trust in Spain to act on your behalf. If you have never had a fiscal interest in Spain before, you will need an NIE number before you can open a bank account or purchase your property here.


In addition to the external expenses there are also taxes to pay. The taxes are dependent on whether it is a new property or second hand. If it’s new then there is 10% IVA (VAT) of the purchase price along with AJD (stamp duty) at 1.2%. For second hand property there is ITP (transfer tax) which is 7% or 8% of the purchase price.

And finally, there are the legal fees for the conveyancing. It is so important that you do employ a trusted, recommended lawyer to complete the purchase for you. Ábaco Advisers has been buying and selling property for almost 15 years and can provide a personalised quote with no obligation. This is an inclusive figure that incorporates all aspects of the sale. At least you know exactly where you stand.

When you begin to look for your property, don’t forget to take these extra costs into account. However tempted we might be to push the boundaries of what we can afford, it won’t be worth it if you end up being short for the final touches that make your new property your new home in Spain

Do you have any questions?

(+34) 96 670 37 48

Please, call me back Write to us Book your FREE consultation

Leave your comment

You must have Javascript enabled to use this form.

Subscribe to our newsletter
"The Word on Brexit"

Keep informed about news on Brexit.

The Word on Brexit Edition
Spain Explained by Ábaco Advisers

Share in

Request a Call Back

Our specialists are always ready to give you a call.

Call me back

Book your FREE consultation

You decide how and when you would like to talk to us.

Book now for FREE

The Ultimate Guide to Buying a Property in Spain

Get the handbook that will ensure you buy your dream property smoothly and safer

The Ultimate Guide to Buying a Property in Spain

The safest way to buy

Safeguarding your interests throughout the purchase

Home Purchase with Confidence

Receive a comprehensive assessment of your prospective property

You must have Javascript enabled to use this form.