Buy Property

 What are the costs when buying a property in Spain?

 

 As a guideline, you can count on 14% of the purchase price, which includes:

 

- Registration in the Land Registry

- Purchase tax

- Notary fees

- Water, electricity and community contract changes

- Advice costs

 

In the case of mortgage, there are some additional costs:

 

- Referee

- Notary fees

- Registration in the Land Registry

- Bank charges

- Mortgage interest rates

 

To apply for a mortgage, you will need:

 

- 3 recent payslips or the latest tax return (if you are self-employed).

- Copy of your passport

- Information from Schufa

 

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

 

- Basic water and electricity charges plus billing of consumption according to the respective meter reading.

- Community fees

- Municipal tax

- Local tax

- Building and contents insurance

 

For all the above mentioned costs, you will have to open a bank account in Spain, so that these costs can be easily settled by debit procedure.

 

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