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New Property Taxes in Spain

Spain – New Property Taxes in Spain

new-property-taxes

BREAKDOWN OF TAXES AND DISBURSEMENTS TO BE MET AT THE TIME OF COMPLETION OF PURCHASE OF NEW PROPERTY IN SPAIN.

There are many aspects that should be checked in advance to ensure you get a good title to the property.

Example for a Spanish property purchased for a price of €150.000 Euros

Euro Sterling Rouble
Purchase Price 150,000 129,772 6,399,255
7% VAT on the amount of the purchase 10,500 9,084 447,947
1 % Stamp Duty Tax 1,500 908 44,794
Notary fees. Approx. (*See note 1*) 450 389 19,197
Land Registry fees. Approx. (*See note 2*) 350 302 14,931
Legal fees (0,75% of the total purchase price) 1204 1041 51,364
Plusvalia Tax. (*See note 3*) note 3 note 3 note 3
Totals 164,004 141,888 6,996,689

 

*Rate applied: 1 Euro = 0.87 Sterling pounds = 42.90 Roubles

Notes:

Notary’s fees are calculated according the number of pages of the Title Deed, the number of parties involved in the transaction and the declared price. Due to these circumstances, it is not possible to determine the exact amount to be paid for this concept.

Land Registry fees are determined according an official scale of fees fixed by law. This scale is applied by the Registrar having in mind the Title Deed signed, declared price, parties involved and any other extra circumstances of the transaction. It is not possible to determine the exact amount to be paid for this concept.

Plusvalía Tax is a local tax to be paid by the seller of the property to the Municipality where the property is located. Amount to be paid is calculated according the number of years that have passed since the last transaction and the increase in value of the land on which the property is built. Sometimes it may be stipulated that the buyer pays it so it is important that this point be negotiated before signing Purchase Deed. It is not possible to determine the exact amount to be paid for this concept.

We will explain ALL of the costs and New Property Taxes in Spain associated with purchasing a Property and provide Spanish and UK based contacts, before, during and after your purchase. All issues will be handled efficiently in a manner you would expect from an organisation that makes customer service our highest priority.

!Permanent residency permits available for non EU investors buying Spanish property at €500,000

The information presented at these pages is provided for general information only and should not be regarded as offering a precise and complete advice. Future changes in legislation could affect the information provided. Therefore, people accessing this information are encouraged to contact us or seek independent counsel for advice regarding their individual legal issues.