Spain Explained

Counting the cost of buying in Spain

Last updated on October 28th, 2019 at 04:34 pm.

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.

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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.

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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.

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