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Fees connected with buying a property in Spain :

 

Notary Fees 1 %

Property Register Fee 0,5 %

There are two different taxes, depending on the type and circumstances of the property that you are buying.

In case of purchasing a newly built property from a developer you pay VAT called " IVA : Impuesto sobre el valor añadido", which will be 7 % + 1 % Stamp Tax of the contract price or 16 % on land.

When you are purchasing a resale, you will pay a transfer tax called " I.T.P - impuesto de transmisiones patrimoniales ", which is charged on 7 % of the declared price.

Lawyer Fees 1-1,5 %

Very important :

You will need a Foreigners Identification Number (NIE)

After purchasing a property in spain it s recommanded to make a spanish will.