Buyer's costs for a property in Spain

When purchasing a house in Spain, one-off costs are incurred. To help you orient yourself to the purchasing process, we have listed the costs here. There is a distinction between buyer's costs when buying a Spanish property and buyer's costs associated with a mortgage from a Spanish bank. We explain these costs below. All buyer's costs are never co-financed and must therefore be paid from your own funds.

Costs associated with purchasing a Spanish property

Transfer tax

A large part of these buyer's costs consists of transfer tax, which ranges between 8 and 10% of the purchase price in Spain. This percentage depends on the region where the property is purchased. You can inquire about the exact percentage for your region with the real estate agent or lawyer. When purchasing a new-build home, we do not refer to transfer tax but to VAT (IVA 10%).

Notary fees in Spain

A Spanish notary will handle the purchase of your home. This notary is required to draw up legal documents and oversee the property transfer. The costs of a notary in Spain range between 600 and 900 euros, depending on the purchase price, and are always borne by the buyer. Consequently, the buyer may choose the notary (in consultation with the selling party).

Land Registry registration

You must register the property in your name in the Land Registry, also known as the 'Registro de la Propiedad'.

Voluntary additional costs are not included in the aforementioned buyer's costs. For example, do you wish to hire a lawyer for your home purchase? Or do you wish to engage a real estate agent to assist with your house hunt? In that case, you often still need to pay these experts directly for their services.

Costs for a mortgage on a Spanish property

If you wish to take out a mortgage to purchase your home, there are also one-off costs involved. These are often incorrectly compared to the costs of purchasing the home. Below, we provide an overview:

Closing fees at a Spanish bank

These are costs charged by a bank for taking out a mortgage. In Spain, this amounts to as much as 1.5% of the mortgage amount. At Spaanse Hypotheek, you pay a maximum of 1% of the mortgage sum as closing costs. For each individual case, we can assess whether these bank fees can be negotiated to be lower. This exclusive condition has been made possible by our long-standing collaboration with our Spanish banks.

Appraisal costs for a Spanish property

To be eligible for a mortgage, having the house in Spain appraised is mandatory. Additionally, we recommend an appraisal of the Spanish property at all times to determine the current value of the home. This not only gives you a clear insight into financing options but also provides you with a strong negotiating position when determining the purchase price. See how Spaanse Hypotheek helps you with this through our WoonZeker package. Read more about the costs of an appraisal in this article.

Other banking products

A Spanish bank often gives you a discount on your mortgage interest rate if

je aanvullende producten afsluit. Dit gaat om een opstal- en levensverzekering. Een opstalverzekering is altijd aan te raden om af te sluiten bij een Spaanse bank. Zij hebben immers net zoveel belang bij een onderpand die in goede staat is. Een levensverzekering is optioneel en kan in Spanje hoog in de kosten oplopen. Ons advies is ten alle tijde om meer informatie hierover op te vragen bij een hypotheekofferte. Is een levensverzekering verplicht bij jouw bank of hypotheekbemiddelaar?

Tip ➔ With Spaanse Hypotheek, life insurance is not mandatory under certain conditions. Ask us about the possibilities.



Please note: There are other costs associated with a mortgage from a Spanish bank. These include registering the mortgage in your name in the Land Registry, notary fees for drafting the mortgage deed, and mortgage tax. However, these costs are no longer borne by the client, but by the bank! This is legally established in the new Spanish Mortgage Law of 2019.

How are the costs structured in your situation?

To provide a clear guideline, the buyer's costs are explained to the client as percentages. However, the buyer's costs may vary depending on the purchase price. Please take this into account! There are also fixed costs that are not based on the purchase price. Example: There is one fixed price for registering the property in the Spanish land registry; this does not depend on the price of the property. From this, we can draw the following conclusions:

1. Purchase price < € 80,000. The buyer's costs will be higher than 10-12% here.
2. Purchase price > € 1,000,000. The buyer's costs will be lower than 10-12% here.



The advice is to prepare yourself well for the buyer's costs of a house in Spain. Familiarize yourself with the transfer tax in the region where you wish to purchase, the notary fees, and compare these costs. This way, you will avoid any unexpected surprises!