1.NOTARY FEES
Notary fees, also known as tariffs, are regulated by the state and all charge the same fee for identical services. In the case of the provision of a contract for the signing of a contract of sale, the prices range from EUR 600 to EUR 875, depending on the price of the property. For example, an apartment for 100,000 euros would cost about 850 euros, and for 250,000 euros — about 1,000 euros.
- BUYER EXPENSES
In terms of costs and taxes when buying a new property, the most important tax is VAT, which in the Autonomous Community of Valencia is 10% in 2022. For housing worth € 100,000, this would mean € 10,000 and € 250,000 for € 25,000). VAT may be 4% on the purchase of social housing, but it depends on the Autonomous Community and the type of social housing concerned. A second tax must be added to the VAT: documented legislation (IAJD). This fee is still paid by the purchaser and is dependent on each Autonomous Community. In the Autonomous Community of Valencia, for example, it is 1.5%.
The transfer of non-new immovable property is also subject to a 10% transfer duty (Impuesto sobre las Transmisiones Patrimoniales).
- REGISTRATION OF REAL ESTATE
Acts signed by a notary must be registered in the state register. Again, the fees are set by regulations and depend directly on the price of the property, and usually range from € 200 to € 650.
Also keep in mind the services of an interpreter (if you do not speak Spanish) and a tax professional, which are usually contractual.
