- ITP (property transfer tax) if the property is second-hand. The exact percentage varies depending on the region you are in.
- VAT (Value Added Tax) for new homes. It is about 10% (common in all autonomous communities). But if you are under 32 years old and the property is going to be your habitual residence, the amount is reduced to only 5%.
- The different notary expenses .
- The costs of registering the property (in the national registry), which are equivalent to 1.5%.
- Appraisal of the house (even if it is managed by the bank, you could pay around €200 here).
- The lawyer’s fees in case of hiring one, which are usually 1% of the purchase price (although it depends on the complexity of the operation).
Therefore, the usual thing is that you pay an extra 10-12% on the sale price .
One of the main benefits of buying a property in Spain is that thanks to it you can easily obtain residence .
How does it work?
After investing a minimum of 500,000 euros in real estate, you can opt for the so-called golden visa , a 2-year residence permit (with the possibility of subsequent renewal) that allows you to live and work legally in the country.
One of the main advantages of this visa is that you do not need to stay in Spain for a long period of time throughout the year in order to renew it.
Visiting Spanish territory once every 365 days is enough.
You can access all the details and requirements Middle East Mobile Number List of this residence permit for investors here .
Where to find the ideal apartment or house
Where can you find the best real estate deals?
There are several platforms in Spain with very complete catalogs of properties for sale.
Among them, the most used are:
There is no website better than another.
After all, you will have to dedicate enough time to find the house that best suits your needs, and even visit different local real estate agents in person to be able to evaluate all the available options.
The essential advice to buy
Throughout this article we have seen some suggestions and recommendations that will surely be very useful for you.
However, there is an extra tip that will end up being crucial , especially if you are a foreigner or have no previous experience buying a property.
The buying and selling process can be risky at times, being able to earn you serious legal problems if you ignore certain clauses or do not pay enough attention to important points.
Therefore, it is convenient to have the help and
advice of a specialized lawyer to help you and guide you step by step.
Not only will you gain security and legal certainty, but you will Cryp Email List also be able to formalize any procedure while you are abroad (since it is not really necessary to be in Spain for the vast majority of steps).
You will simply have to give your lawyer power of attorney, and that’s it!
At Immigration Spain we have a property sales department ready to help you and assist you in the entire process step by step.