Paying for your Spanish Property

When purchasing a property in Spain, just like the UK, there are always fees and taxes to consider, here is a guide to help you understand what you are paying for. Most of these are small a few hundred euros but you need to be aware of just what you are paying and too whom.
The total amount on average to be paid in fees and taxes is around 8% of the total purchase price but, to be on the safe side work on 10% and you will receive some change!

Lawyers Fees
Lawyers fees are usually 1 - 2% of the purchase price plus 16% IVA (the Spanish VAT).

Notary Fees
Notary fees are fixed by law and normally range between 300€ and 900€.

Registry Fees
Regsitry fees are approximately 40% of the notary fees.

Transfer Tax
For resales this is 7% of the purchase price.
When buying from a developer this is replaced by 7% IVA plus 1.0% stamp duty.

Plus Valia
Plus Valía is a local municipal tax and is calculated as a percentage of the difference in the increased value of property from when it was last sold. This is based on the Ratable Value, NOT the real value, and is a one-off payment charged when property changes hands.
Each Town Hall defines the percentage differently and it varies according to municipality and therefore you should find out exact amount from the town hall (the “plusvalia” department). The vendor is responsible for paying this tax.

Who pay´s what?
It´s normal practice for the buyer to pay the above fees and taxes except for the “Plus Valia”. The vendor will also pay his own Capital Gains Tax.