Taxes

The last step that enables the process to be totally legalised is the payment of the corresponding taxes established by law. The taxes are the same for both European and non - European residents.


In case of a new property, the following taxes are to be paid:
Value Added Tax (IVA).
This is a tax which is to be paid by the new owner. For the majority of goods and services the normal applicable amount is 16% (e.g., the case of purchasing plots of land or garage spaces), but in the case of a house purchase, the percentage is reduced to 7% of the total value.
Public Notary Fee.

A tax paid for the Notary Documents which are inscribed into the Property Register (as in a property purchase). This tax amounts to 2% of the value of the property
If it is a resale property you are purchasing, you should also take these following taxes into account:
If it is a resale property, you are acquiring you should also take into account these following taxes: