1. Stamp Duty (Impuesto de Actos Jurídicos Documentados)
The stamp duty rate is 1%~2% of the total house price (varies by autonomous region). If purchasing property through a loan, there’s no need to pay; the bank will cover it.
- Valencia: 1.5%
- Barcelona: 1.5%
- Madrid: 0.7%
- Alicante: 1.5%
- Malaga: 1.5%
2. Value Added Tax (IVA)
Only paid when trading new houses, generally 10% of the total house price.
3. Transfer Tax (ITP)
Only paid when trading second-hand houses, the rate varies by autonomous region.
- Valencia: 10%
- Barcelona: 10%
- Madrid: 6%
- Alicante: 10%
- Malaga: 8%
4. Property Registration Fee
Generally 1% of the total house price.
5. Property Notary Fee
Usually between 400-600 euros.
6. Property Assessment Fee
If a loan is needed, the bank will require a property assessment report. The cost is around 250 to 600 euros.
7. Check Issuance Fee
Banks charge based on the issuance cost, generally around 0.2% of the issuance amount.
8. Agency Fee
Different regions have different agency fee rules, generally around 3%. However, in Alicante and Malaga, buyers usually don’t pay agency fees.
9. Property Tax (IBI)
The tax rate is 0.4%~1.10% of the total house price (net value), charged annually.
10. Property Management Fee
- Varies by housing type and property differences. Generally, between 40 to 200 euros per month.
- Property fees that include a swimming pool will charge an additional swimming pool maintenance fee in the summer, which is about 300 euros per month.
11. City Garbage Tax
Approximately 50-200 euros annually.
12. Old House Renovation Fee
Older houses are required to undergo major renovations every decade or so, with costs ranging from thousands to tens of thousands of euros.
13. Utilities Transfer Fee
14. Lawyer Fee
If you believe you need a lawyer to review contracts and check property documents, consider hiring one. The fee is generally around 1% of the house price.
15. Nota Simple Application Fee
Nota Simple is a property deed inquiry, a must-see document before buying a house. The application generally costs around 10 euros.
16. Security Investment
It’s recommended to install an alarm system, costing around 50 euros per month.
17. Garden Investment
- Gardeners come regularly for maintenance, costing about 200 euros per month.
- Pool maintenance is also around 200 euros per month.
- Regular Exterior Wall Painting Fee
- Irrigation System for Plants
18. Renovation
- If unsatisfied, renovating will be a significant expense.
- Soft Furnishings and Appliances
19. House Insurance Fee
Most people choose to insure their homes, generally costing around 50 euros per month.
20. Non-residential Property Personal Income Tax (IRPF)
- If you own property in Spain but don’t reside there, you need to pay a personal income tax of about 2% of the total house price.
- If renting out the property, pay personal income tax of 18-24% of the rental income.