How much does it cost to buy a property in Spain? Key costs you should know

Discover the Real Expenses When Purchasing a Home on the Costa Blanca

Buying a property in Spain is a significant decision and an excellent investment, especially in high-demand areas like Calpe, Altea, Moraira, Benissa, or Finestrat. However, it's essential to understand the additional costs beyond the purchase price to plan your investment effectively.

1. NIE Number: Your Starting Point

If you're a foreigner, you'll need to obtain an NIE (Foreigner Identification Number) to purchase a property.

At Mauer Management, we assist you in obtaining your NIE hassle-free, handling forms, documentation, appointments, and translations.

2. Taxes Depending on Property Type

Second-hand property: In the Valencian Community, the Property Transfer Tax (ITP) is 10% of the purchase price.
Newly built property: A 10% VAT plus 1.5% Stamp Duty (AJD) applies.
Plot or urbanizable land: The tax is 21% VAT, except in certain cases with special regimes.

3. Notary and Registry Fees

Notary and property registry fees depend on the property's value but typically range between €3,000 and €3,500.

4. Utility Connection (for new builds)

For new homes, you'll need to connect utilities like electricity, water, or gas. This process can cost between €500 and €1,200, depending on the provider and location.

5. Buying Through a Company?

If you're purchasing the property through a company, you might benefit from tax advantages such as VAT deductions or other fiscal benefits, depending on your situation. Our team analyzes each case to help you optimize your investment legally and effectively.

At Mauer Management, we offer comprehensive and personalized advice, helping our clients understand each expense, anticipate costs, and make informed decisions. Whether you're buying a second home, a luxury property, or a real estate investment, we're with you every step of the way to ensure you buy with confidence on the Costa Blanca.

Have questions about the costs of buying a home in Spain? Contact us, and we'll help you find the answers.