CONVEYANCE COSTS SPAIN 2023. The REAL COST OF BUYING A PROPERTY IN SPAIN скачать в хорошем качестве

CONVEYANCE COSTS SPAIN 2023. The REAL COST OF BUYING A PROPERTY IN SPAIN

¿WHAT ARE THE COSTS INVOLVED WHEN BUYING A PROPERTY IN SPAIN? ¿How much do I need to budget for if I'm thinking about buying a house in Spain? What costs you need to budget for when pursuing the idea of owning a HOUSE in a Spanish city, in its beautiful coast or in one of its islands or charming towns? In today's video Today we are going to talk about the conveyance costs you need to plan for if you are willing to buy or are in the process of buying a property in Spain. I will break down for you the costs you will need to keep in mind and budget for if you are thinking about becoming the owner of a house or property in Spain. These would be the main costs you would need to budget for: Notaría or Notary Registro de la Propiedad or Land Register Gestoría or tax clearance Taxes: I.T.P. or I.V.A. Real Estate agency commission Legal services Mortgage fees These costs will vary slightly depending on the final price, but to have a rough approximate idea you can add around 10 - 12% to the purchase price. Taking a purchase price of €470,000, for example. The costs would be as follows: Notary fees: between 600 and 1.000 €. Registration in the Land Registry: between 300 and 600 €. "Gestoría": between €300 and €400 (this is optional as you could do the paperwork and tax clearance yourself if you feel capable and have the time). Now the TAXES you will have to pay will depend if you’re buying a brand new home or a second hand property. ITP or Transfer Tax: Depending on the autonomous community in which you are, the rate varies between 6% and 10%. This is in case you're acquiring a second hand property. If it is a new construction, you will have to pay VAT, which varies between 10% and 4% in the case of social housing. On top of those expenses, you might have some other, like: Estate agent's commission. The one that has been agreed, to which 21% VAT must be added. In addition, you will have Legal services, 1% but will depend on the complexity You might haves some other costs, such as: Costs of the donation (for example if your lending your son or daughter some money for the purchase). You will also need to add other expenses in case you need to take a mortgage. Let's do a little example: E.g. for a property of 300.000 € in the Community of Madrid 19.934,47 € Purchase costs (19.575,10 €) Notary fees: 750,00 €. Registry: 450,00 €. Gestoría: 375,10 €. ITP: 18.000,00 €. You are more than welcome to LEAVE YOUR COMMENTS OR QUESTIONS in the comments section. And don't forget to subscribe to the channel to be the first one to see the latest content. Channel for the divulgation of legal and juridical issues. Follow us on: Twitter @e_studiolegal Instagram e_studiolegal Facebook E-Studio Legal For CONSULTATIONS write us an email to: [email protected] E-STUDIO LEGAL - Legal services ⭕ [ESP] www.e-studiolegal.es ⭕ [ENG] www.e-studiolegal.com The content of this video is for informational purposes only and cannot at any time be considered legal advice of any kind. Seek professional advice for your specific case. E-STUDIO LEGAL shall not be liable for any decision based on the information contained in this material.