What are the costs when you buy a property in Spain?

As a guideline, you can reckon up to 14% of the purchase price, which includes:

     • Registration in the Land Registry

     • Purchase Tax

     • Notary fees

     • Water, Electricity and Community contract changes

     • Consultancy costs

In case of mortgage, there are some additional costs:

     • Referee

     • Notary fees

     • Registration in the Land Registry

     • Bank charges

     • Mortgage rates

To apply for a mortgage, you will need:

     • 3 recent pay slips or the last income tax return (if you are self-employed)

     • Copy of passport

     • Schufa information

What are the annual maintenance costs for a property in Spain?

     • Basic fee for water and electricity plus the billing of consumption based on the respective counter reading

     • Community fees

     • Council tax

     • Local tax

     • Building and contents insurance

For all charges listed above, you should set up a Spanish bank account, so that those costs can be easily settled by debiting procedure.

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