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New Horizons Property

Email: sales@newhorizons-property.com

Tel. (0034) 615190027
The costs of buying property in Spain PDF Print E-mail
We often asked about this one and of course there's no hard and fast answer. But, as a rule of thumb, be prepared to fork out 10% of the purchase price in various fees and taxes for the property you are going to buy on the Costa Blanca Spain

It's important to bear this in mind before you even start looking for a property because it can come as a nasty shock to buyers who haven't put enough aside to pay for all the extras.

You may pay more or less than 11% when you buy a home in Spain concerning resales, For New built you will pay another 1,5 % tax more. 

Lawyers' fees vary but are usually around 1% of the sale price plus the costs of any official documentation needed. Don't just go for the cheapest lawyer to save money - he or she could cost you a fortune in the long run! Make sure your lawyer is from a reputable Spanish firm or a firm based in your own country with a strong reputation and special expertise in the Spanish property market.  

It's common practice in Spain to put down an initial small deposit to persuade the agent and or owner to remove it from the open market. After preliminary legal checks prove satisfactory, it's normal to pay a 10% deposit to secure the property. This has the advantage of stopping the iniquitous UK-style gazumping - you lose your deposit if you pull out of the bargain but the owner has to pay you double your deposit if he or she reneges on the deal. e costs of buying property in Spain