Many people dream of having their own holiday home in Spain and we hope we can realise that dream for you. The lifestyle and climate in the Costa Blanca is fantastic and property prices are on a good level at the moment.
We make sure that the purchase process is both secure and smooth. We guide you throughout the process and assist you with the required knowledge, both legal and practical. We work with highly experienced lawyers, all to make everything as smooth and secure as possible for you as a customer. Below you will find more information about additional costs you should calculate with and how the purchase process works in Spain. Welcome to us!
When buying a property in Spain, some costs will be added to the purchase price that you should be aware of. The exact amount depends on a number of factors, but is usually 11-13% of the purchase price. Here's a breakdown of the costs:
When purchasing a new-build property, a value added tax of 10% of the purchase price plus a stamp duty of 1.5% will be added.
When buying a second-hand property, a transfer tax of 10% of the purchase price will be added. No stamp duty is added.
The buyer is responsible for the fee of the notary when the parties sign the title deeds. The exact cost depends on different factors, but you can expect 0.5% of the purchase price.
The cost of registering the property in the property register is also approximately 0.5% of the purchase price.
Fees for changing name on contract for water, electricity and sewage.
Varies depending on the solicitor you choose and the price of the property, but usually around 1.300 euros. We recommend Abaco Advisers who have long experience and can provide service in your language.
If you do not already have funding sorted from your home country, there is the possibility of lending up to 60% of the property's value through most Spanish banks. The largest banks, such as Banco Sabadell and Deutsche Bank can attend you in fluent English.
The purchase process
When all parties agree, a purchase contract is written, specifying the price and date of entry. In connection with the signing of the purchase contract, the buyer pays a deposit to guarantee that he will follow through with the purchase.
Reservation fee or deposit
When buying a new-build property a reservation agreement will be signed with the construction company and the buyer pays a reservation fee of approx. 3.000 - 6.000 €. The remaining part is usually paid in 3-4 instalments, with the last instalment on the day of entry.
When buying a second-hand property the buyer pays a deposit, usually 10% of the purchase price. The deposit can be paid by credit card or bank transfer. The final payment is made on the day of entry.
A NIE number is a Spanish tax identification number that you need in order to purchase a property in Spain. Among other things, it is necessary when signing the title deeds and to open a bank account. You can apply for a NIE number from the Spanish police or the Spanish embassy in your home country. We help you with the whole process.
The title deed is signed at the notary, who is an officially appointed lawyer and is responsible for checking the buyer's and seller's identity and verifying that the final payment is correctly made under Spanish law and that it has reached the seller before signing the title deed.
Day of entry
When the title deed is signed, the buyer receives the keys and can move in to the property. The day of entry is usually 1-2 months after the deposit has been paid.
We look forward to welcoming you to your new place in the sun!