Thursday, February 2, 2023

What are the purchase costs of a property Spain?

What are the purchase costs of a property Spain? Check out the percentages of fees.

The percentages of fees may vary from one autonomous region to another. In addition, they can always be changed by the government. In general, a distinction should be made whether you are buying a new construction property from the developer or an existing property.

Purchase costs for new properties

  • Ibiza: 10% VAT, 1.2% AJD
  • Tenerife: 7% VAT, 1% AJD
  • Costa Blanca: 10% VAT, 1.5% AJD
  • Costa del Sol: 10% VAT, 1.5% AJD

Acquisition costs existing home

Ibiza:

  • < € 400,000: 8% ITP
  • € 400,000 - € 600,000: 9% ITP
  • € 600,000 - 1,000,000: 10% ITP
  • € 1.000.000 >: 11% ITP

Tenerife: 6,5% ITP

Costa Blanca: 10% ITP

Costa del Sol: 

  • < € 400,000: 8% ITP
  • € 400.000 - € 700.000: 9% ITP
  • € 700,000 >: 10% ITP

The following costs are also always incurred:

  • Notary: +- € 900
  • Property register: +- € 500
  • Connection to water / electricity: € 500 including meter (only for new construction)
  • Counsel: +- 0,8% - 1,5%


To be on the safe side, count 10% purchase cost for Tenerife and 12% - 15% for the other regions.