– Notary fees
Notary fees are set by the government and sum up to aprox. 0,1% of the declared price of a property, depending also on the number of pages of the document.
– Land registry fees
The fees of the Land Registry depend on the value of the property and sum up to 70% of the notary fees.
– Taxes (VAT, transmission tax, stamp duty)
(1) realty transmission tax rate for Andalusia (accumulative)
• Purchase price up to 400.000 €: 8%
• Price range between 400.000 and up to 700.000€: 9%
• Prive over 700.000 €: 10%
• reduced Transmission tax for operating real estate companies
(2) Stamp duty
If a property sale is subject to VAT, a stamp duty (1,5%) is due as an extra cost.
Note: The above information applies to Andalusia. A reduced transmission tax rate of 7% as a flat rate will apply from 28/04/2021 until 31/12/2021.
– Lawyers fees
Your lawyer will charge a flat fee amount of aprox. 1% of the value of the transaction (Property sale or purchase) plus VAT. The percentage depends on the property value.
Lawyers are in charge of the real estate due diligence, preparation of the private contracts, preparation of the title deed, tax declarations as well as the presentation of the title deed at the land registry, as in contrast to other jurisdictions, Spanish notaries are not involved in the processing of the property transmission.