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Buying costs explained

Buying Costs Explained

You’ve found your ideal property — the one that ticks all your boxes — and now it’s time to take the next step. Once the purchase price is agreed, a contract will be signed and a deposit paid to secure the property.

At Mediter Real Estate, we guide you through every stage, clearly explaining contractual obligations and negotiating on your behalf when needed. While we and your chosen solicitor handle most of the formalities, understanding the costs involved in buying property in Spain is essential. These expenses often total 11–13% of the purchase price, and can differ significantly from what buyers are used to elsewhere. Knowing them upfront ensures confidence and avoids surprises.

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Key Costs at a Glance

Property Purchase Tax

New builds: 10% VAT + 1.5% Stamp Duty. Resale: 10% Transfer Tax (ITP in Valencia). Land/commercial/garages: 21% VAT.

Professional Fees

Notary (~0.5%), Land Registry (~0.5%), Legal Fees (1–1.5%). Optional extras may include obtaining an NIE or drafting a Spanish will.

Mortgage Considerations

If financing with a Spanish mortgage, expect slightly higher total costs (~13–14%), covering bank valuation, mortgage arrangement fees, and notary fees for the mortgage deed.

Detailed Breakdown

Purchase Cost Insights

01 Property Taxes

The taxes you pay depend on the type of property: new builds (10% VAT + 1.5% Stamp Duty), resale properties (10% Transfer Tax in Valencia), or land, commercial units, or garages (21% VAT). These costs are an important part of the total purchase price.

02 Notary Services

Notary fees are typically around 0.5% of the purchase price. The exact amount can vary depending on the complexity of the deed, the number of parties involved, and the specific services required during the signing process.

03 Land Registry

After signing the public deed, the property must be registered at the Land Registry. Fees are usually around 0.5% of the purchase price and may vary by region and property type. This step ensures the legal transfer of ownership and protects your rights as owner.

04 Legal & Mortgage Fees

Solicitors charge 1–1.5% of the sale price. Additional services, like obtaining an NIE or drafting a Spanish will, may apply. Mortgage buyers should budget slightly higher total costs (~13–14%), covering bank valuation, mortgage setup, and notary fees.

Plan Your Purchase with Confidence

At Mediter Real Estate, we believe informed buyers are confident buyers. We’ll guide you through every step — from understanding costs to finalizing your purchase — ensuring clarity, security, and peace of mind.

Example “True” Purchase Price (for €150,000 property):

Property sales tax (10%):	€15,000
Notary fees (0.75%)	€1,125
Land registry:	€750
Lawyers fees:	€1,630
Subtotal:	€18,505
Total purchase price including costs:	€168,505

Plan Your Purchase with Confidence

Example “True” Purchase Price (for €150,000 property):

Property sales tax (10%):	€15,000
Notary fees (0.75%)	€1,125
Land registry:	€750
Lawyers fees:	€1,630
Subtotal:	€18,505
Total purchase price including costs:	€168,505