When buying a house in Spain, you not only need to consider the property price but also a series of taxes and fees that will impact your final budget. These costs can vary depending on the type of property you purchase (new or second-hand) and the Autonomous Community where the property is located. Below, we explain the most relevant taxes and fees for 2024.

What taxes do you have to pay when buying a new-build house in Spain?

• Value Added Tax (VAT)

If you're thinking about buying a new-build home, you will need to pay VAT. For the year 2024, this tax is 10% of the property's price.

• Stamp Duty (IAJD)

The IAJD is another tax that applies when formalizing the property's deed. For new homes, this tax is mandatory, and its rate varies depending on the Autonomous Community. The IAJD can range from 0.5% to 1.5% of the deeded value of the property.

And for buying a second-hand property in Spain?

• Transfer Tax (ITP)

If the property is second-hand, you won't pay VAT, but you will need to pay the Transfer Tax (ITP). This tax ranges between 6% and 10% of the total property price, depending on the Autonomous Community where the purchase takes place.

Other costs to consider when buying a house in Spain

In addition to taxes, it's important to consider other costs when buying a house in Spain. Notary fees, which range between 600 and 1,000 euros, and Land Registry fees, which vary between 400 and 700 euros, are unavoidable expenses. If you finance the purchase with a mortgage, you will also need to cover appraisal fees (between 250 and 600 euros) and possible mortgage origination fees, which can reach up to 2% of the loaned capital.

When you buy a home in Spain, taxes and fees can add up to between 10% and 12% of the property's value, making it essential to have a well-planned budget.

Casas Ambiente: Your trusted expert for buying a house in Spain

We are experts in the Spanish real estate sector with a solid track record of helping our clients buy a house in Spain efficiently and securely. We understand that the buying process can be complicated, especially with all the taxes and legal procedures you must face. That's why our team offers you full support at every step of the process. We take care of answering all your questions, handling the necessary paperwork, and ensuring that everything is carried out legally and without complications. At Casas Ambiente, we not only help you find your dream home but also assist with all the administrative tasks, from formalization at the notary to registration at the Land Registry. With us, buying a house in Spain is a simple and hassle-free process.

• Our email: contact@casas-ambiente.com
• Our phone number in Spain for receiving calls: +34 966 498 595
• Visit us at our physical offices: Avda. de la Paz, 10 Bajo – Moraira 03724 (Alicante)