Considering buying property in the Costa Blanca Spain? Here’s a quick outline of additional expenses you will have to pay other than the price of the property.
The Costa Blanca, also known as the white coast, is mainland Spain’s most popular year-round tourist destination boasting stunning sandy beaches, charming villages and plenty of amenities sitting alongside the clear Mediterranean sea.
Whilst many view the Costa Blanca as a tourist destination and hotspot it also offers an excellent lifestyle destination for residents, expats, homeworkers and holiday home owners as many fall in love with its charm and enviable quality of life.
If you’re considering buying property in the Costa Blanca be aware that in addition to the price of the property itself you will also have to pay additional fees, here’s our quick outline:
Notary fees are the fees charged by notaries that are regulated by the State and are the same throughout Spain for the same services. Notary fees for a deed of sale for, for example, a house with a price of 250,000 euros are around 1000 euros.
Once the deed of sale has been signed, it should be presented to the Land Registry – this is not compulsory but we also recommend doing so. The registry fees are also regulated and depend on the value given to the property in the deed. For a property of 250.000 euros it is around 500 euros.
For the purchase of a new build property in the Costa Blanca, the taxes to be paid are the Value Added Tax (IVA) which, in 2021, amounts to 10% of the deeded value of the property, and the Stamp Duty (IAJD) which is 1.5%. For a resale property on the Costa Blanca, instead of IVA, the Transfer Tax (ITP) is paid, which is also 10% in 2021. For a deeper understanding of taxation when buying property in Costa Blanca Spain, check here.
Often, buyers will choose to entrust the registration of the title deeds of the property in the Land Registry and the liquidation of the taxes to an administrative manager, Administrative managers in Spain will often charge around 300 euros.