The cost of buying a property

This tax is paid when buying any property except a new build. It differs between the autonomous regions and ranges from 7 to 10%. It is calculated from the purchase price, or from the reference value of the current cadastral price map.

This tax is paid when buying a new build and the rate is always 10% of the purchase price.

The notary's fee depends on how demanding the transaction is and on the number and length of the notarised documents. It is normally between 700 and 1,500 €.

Registration costs between 500 and 700 €.

This tax is paid by a seller who sells the property for more than they paid for it. It is calculated from the difference between the sale price and the price recorded in the Land Registry, and amounts to 19% of that difference.

Certified translations of documents usually cost 30–40 EUR per standard A4 page. An interpreter charges roughly 80–100 EUR an hour.

The standard purchase procedure involves an immediate OMF payment (through the Bank of Spain) or the traditional, still occasionally used bank cheque. In both cases the bank charges are around 0.5% of the total transaction value. Under certain conditions this charge does not apply — we will be glad to advise you.

In some situations it is worth having a survey done on the condition or the value of the property. It costs between 300 and 500 EUR depending on the size of the property.

We recommend this to clients buying the property through a company. Specialist advisory firms offer a complete tax service for property transfers and usually charge 0.75–1% of the total transaction value.

Spanish law requires a non-resident taxpayer (someone without tax domicile in Spain) to have a tax representative, who guarantees that the tax return is filed correctly and on time and that the tax is paid. You are only obliged to use a fiscal representative for the first year, but we recommend continuing with the service. A fiscal representative charges a flat 150–200 EUR, and that price stays the same even if you own or are buying several properties in Spain at once.

Owners' fees pay for the upkeep of communal areas and facilities such as pools or gardens. They are usually around 400 EUR a year for a flat of 50–70 m² and apply only to properties in residential complexes. If you own a detached house, they do not concern you.

Property tax is paid annually and comes to roughly 200 EUR for a flat of 50–70 m². The exact amount depends on the cadastral value of the property.

The waste collection fee is paid twice a year and comes to around 20 EUR. In some areas it is already included in the property tax (SUMA).

Electricity — meters are read remotely and each month you pay by direct debit, in arrears, for what you actually used. There are no advance payments. If you use nothing, you pay a minimum grid connection charge. The average price of electricity for households is around 0.0329 EUR/kWh. The cheapest rates are available between 13:00 and 14:00 at 0.0215 EUR/kWh; the highest are between 20:00 and 21:00 at 0.0534 EUR/kWh.

Water — billed quarterly on actual consumption, that is, in arrears. The price per cubic metre varies by region in Spain, between 1 and 2 EUR per m³.

Basic annual insurance for a flat of 50–70 m² costs around 200 EUR; comprehensive cover around 500 EUR.

Internet usually costs around 25 EUR a month. Some providers offer tariffs that only charge you for the months in which you actually use the connection.

If you bought the property as an investment to let out, we will be glad to put you in touch with one of our partner management companies. Depending on the scope of the service they charge from 6% to 25% for the full package — furnishing and decorating the property, running the booking system, handing over keys, cleaning, maintenance, listings on Booking.com, Airbnb and their own portals, and communication with guests.