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Buying guide | Support on purchasing a new property in Spain

The Process of Purchasing a Property in Spain

This is an information guide to purchasing a new property in Spain. It does not cover all the legal and financial points, and all are recommended to seek advice from a Spanish Lawyer and a Fiscal Representative.

New Development Purchase
  • When you have made your choice, a deposit will be needed. usually a minimum of 3000 euro paid via your solicitor, is all that is required to reserve your plot/property, this holds the selling price and removes the property from the market
  • The contract will then need to be discussed. The contract will include:
    • Details of the agreed purchase price
    • Details of stage payment (normally the first stage payment of up to 50% is required within 4-6 weeks of the initial deposit. Payment of the balance of the purchase monies will be discussed and agreed with the developer, along with any extras that you have agreed to purchase, plus an agreed date for completion)

Upon completion of part one of the contract the Euro purchase price is guaranteed.

Title deeds will only be transferred into your name on full payment.

Please note that payments once made are non-refundable.
  • A bank account will be opened for you when required from which payments are made on completion of your property

  • The floor areas in Spain are measured externally which means that internal measurements are approximately 3-5% less, depending on the thickness of the walls

Resale Property purchase
  • The process of purchasing a resale property is more or less the same, however an initial deposit of up to 10% of the value of the property may be required. The balance will usually need to be paid in 4/6 weeks of the receipt of the deposit when the deeds are signed.

  • All monies should be paid to your chosen Solicitor in every case

Mortgage information

Mortgages are available, for non-residents approx. 60/70 %, subject to credit status, of the purchase price, introductions can be arranged via our partner office in the location. UK options should be investigated to finance your purchase..we may be able to help if required.


Your Place in Spain DO NOT handle any monies on your behalf.

All financial transactions are done directly with the developer via your solicitor.

Additional Costs
  • IVA – ‘A Spanish purchase tax’ it is calculated at 8% – 11% (depending on location) of the purchase price of a resale property, 10% on a new build property.

  • Complementary Tax –  is levied when the declared purchase price is less than the tax office’s valuation.  Contact us for further details on complementary Tax

  • Legal Fees – 1% of property price + IVA, for making searches, preparation of the Title Deed and translation before a Public Notary.

  • Notary’s Fees – For preparing the Escritura (the freehold title deeds) which are signed in front of him, and registering the change of ownership in the local Land Register Office and ensuring that the transfer taxes are paid.

  • Stamp Duty – of 1% of the declared price

  • Plus Valia Tax – capital gains are tax levied by the Town Hall calculated on the appreciative value of the land the property is on (this is usually paid by the seller, although this could be a potential cost)

  • Utility Fees – it is necessary to connect the water and electricity meters to transfer the services to your name as the new owner

We would estimate the costs on top of the purchase price will be, on a new build approx 13 – 14% and on a re-sale property approx 11% – 14%

Annual Running Costs –

The annual costs for running an apartment/ average villa in Spain are lower than in the UK. Costs vary according to the size of the property and of course how much it is used.

Annual costs usually average up to approx 1% to 2% of the cost of your property (depending upon the size of your property and also depending on what you paid for your property). Electric, Gas, Water, Community fees, Insurance, Non- resident tax, Council tax along with your fiscal representative costs should equate to around 1 to 2% of purchase cost, for your annual running costs, then divide by 12 for the monthly costs (these costs could be lower where no community fees are payable, possibly higher where private pools are involved.) Guide Only.


We strongly advise you employ a local solicitor, experienced in the purchase of property. You will be given the name of a local solicitor by our partner office in the location, or alternatively you can use another if you wish. The advantage of being local ensures any issues are known and can be checked quickly. With regards to new build projects in the location all permissions should be registered at the local town hall.

The solicitor will be able to facilitate your Spanish will requirements.

It is advisable for all property owners to appoint a local Spanish fiscal representative to advise on their financial responsibilities, initially at least, better to pay a little more for the right advice rather than fines for non-compliance. Our team in the location can advise of a local representative.

* This buying guide for purchasing a property in Spain is for guidance only *