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You have two taxes and two fees to pay on the transfer of the property. They are:

• Notary fee. You will have to pay the Notario a fee fixed by the official scale. The fee varies. If there is a mortgage on the property this will entail an extra deed and charge.

• Property registry. This is the fee for the registry of the property in the official Registro de la Propiedad. This fee will be of similar amount to the notary fee. Your lawyer can tell you the exact amount before you buy.

• Transfer tax. Called Impuesto de Transmisiones Patrimoniales. This transfer tax is fixed at 7% of the value declared in the contract. You will pay 7% IVA (VAT) if you buy a new property from a developer plus half of one percent in stamp duty.

Finally, you have your lawyer's fee. This as a rough guide usually works out at about 1% of the purchase price. This may all seem a little complicated upon first reading, but in reality it is a standard procedure which your lawyer will guide you through. We can recommend English speaking lawyers to you if you do not have any personally recommended lawyer of your own acting for you.

Costs

Taxes & Fees
Annual Costs

Montes de Malaga
Real Estate S.L.

 

El Antiguo Mercado
Calle Virgen de la Candelaria
29170 Colmenar
Spain
 

Calle Duquesa de
Parcent 10-2D
29001 Málaga
Spain

10685-B Hazelhurst Drive
Suite 3191
Houston, TX 77043
USA

Call: (+34) 902 887 097
or: (+34) 952 730 629
 

USA & Canada Toll Free:
1-888-4556-888

Email:

Languages spoken: English, Dutch, Spanish, German, and French.

Montes de Malaga Real Estate S.L. have village houses, fincas and cortijos, villas, bed and breakfast businesses, rural hotels, restaurants and other Spanish property for sale in Antequera, Almogia, Casabermeja, Colmenar, Comares, Riogordo, Villanueva de la Concepcion, Villanueva del Rosario, Villanueva del Trabuco and elsewhere in rural Axarquia, the province of Malaga, the Costa del Sol and inland Andalucia, Spain.