Understanding of spanish property market, leadership that helps to make reasonable decisions, https://granfield-estate.com/ and a list of real estate analysts and suppliers of the construction services from the source to which you have reason to trust.
This is a platform for customers, owners and sellers of real estate in spain, offering reliable information and opportunities to help players do everything with confidence. They are controlled by mark stuuklin, the author of the spanish doctor property doct in the sunday times (2005-2008), and the book “you need to know: the acquisition of housing in spain” published by collins.
at the time of purchase or sell real estate in spain, the amount of money is large, possibly the most common large financial decisions of life. High transaction costs that you will encounter, as taxes and commission, only make a solution more important in order to prove the ability. And, if you receive property in spain, you will receive many unnecessary troubles for management and control costs. Partly regrettable, the spanish real estate Granfield Estate market is opaque and full of traps, and as you know, a non -professional. Buying and selling housing in spain is not a decision, which must be made easy and the user is likely to be more convenient to purchase than to sell, if you do not take care. In this market, so much means to perform their own research and not rely solely on people who are trying to customers, to sell everything - let's just say that they may not have existing needs from the inside. The spanish property of insight is the only independent source of information and support for spanish real estate. Do not think about the acquisition or sale of real estate in spain without a subscription to spanish property. >- market research contact
Exclusively by email
Web site
Rea
- Spain latest articles
Dig deper
Oecd report emphasizes the problem of housing spain
Real estate market
Forecasts of the spanish real estate gurus, reducing sales and prices until the second half of 2024
a detailed list of expenses on a transaction and possession, which are associated with the acquisition, ownership and sale of housing in spain. They must be taken into account by anyone who considers the possibility of buying a house in spain, since high transaction costs and real estate taxes in spain can eat an existing budget. To purchase real estate in spain, since the owner needs to find out that you are getting a user, before you start spending your own precious time and money on what can remain just a fantasy.
The next section will deal with the cost of selling real estate in spain, since it is reasonable to keep in mind these costs if you order. The costs of purchasing housing in spain are part of the trip to both ends of registration of ownership and sale of real estate in spain, but often forget to take them into account when they buy.
This is important to clarify the real expenses that you will encounter when you buy buildings in spain. It is important to be a clear esley speech about the current costs, where you will encounter a home owner in spain. And make your own indicators, and do not rely on the claims of others. In this resource, i explain the most all kinds of costs, but the actual costs will remain depending on personal personal circumstances and even despite the fact that i periodically update these figures, they are able to break in the future for a short time.
What are the costs associated with the availability of real estate in spain? To pay. Depending on whether you purchase your acquisition from the developer or property with the reserves from a private person, you need to either pay vat and a stabbing fee, or a transfer tax. Various cases are explained below, along with other costs and taxes, which are common to both cases.
1. The costs associated with the purchase of a new house from a developer (or a financial institution)
This is a cost where you will encounter a new small cities in spain at spain developer or financial institution. It doesn’t matter how real estate was built. To count as a fresh building, it should not have been sold before. />
These taxes are needed for residential buildings that are going on for the first time (never before they are busy either for commercial objects and land plots. This is a national tax, so nd is the same, wherever real estate is except the canary islands, who have their own personal vat version).
At present (known as iva in spain) is 10% at the price of the purchase of residential real estate (villa, apartment, etc.) And 21% for commercial objects and a place of land. It was increased from four% to 10% at the dawn of 2013
Vat on new houses, in the canary islands is known as igic (impuesto general edirecto canario) and is currently four and a half%
(Known as ajd) reaches 1% of the purchase rate, but is able to grow in hard -to -reach regions, so certainly check the last rate. Both vat and the co-fee are paid by the buyer and if any deposit is paid before the completion of the sale, such a deposit will be subject to vat in the process of paying for this deposit. And then there are no scenarios to transfer for ransom.
2. The costs associated with the purchase of the resale house in spain
This is the costs that you will encounter when buying spanish real estate, which was implemented earlier. Generally speaking, this means that when buying a building from a private businessman.
2.1 spanish transmission tax
In spanish: impuesto sobre transmisiones patrimoniales - itp </>
This tax is applied if real estate is considered if real estate is considered the second or rear transfer (which means not for the first time when the client is paid the newly built dwelling or paid by the buyer. If any deposit is paid before the end of the sale, he does not provoke the itp pro rata. However, the full amount of itp is still required to be paid at the end this scenario does not have vat for calculations, and the coat of arms is already included in such a tax. Or their own rate. High local rates. Bet, then you pay, depends on the autonomous region where you purchase (see more information, see the shipment tax in the reserve houses - impuesto de transmisses patrimoniales (itp))
2.2 regulations on the income tax when acquiring from not inhabitants
If the seller does not live in spain, the buyer must withhold 3% of the purchased price and pay it to tax authorities (request form 211). If only a kind of is done, the property will be considered by the tax authorities as assets supporting the seller’s tax obligation. This condition is hardly applicable when buying from a developer.
3. The costs associated with both new purchases and resale purchases in spain
These are additional investments, where you will probably encounter the purchase of that or other real estate in spain, regardless of whether the apartment will be new or not. /> > 3.3.1 fees for the real estate body
The fee for the real estate agency or the commission is paid by the seller, unless otherwise agreed. If the buyer uses a search agency, then the buyer is paid. Find property in spain. However, it is necessary to imagine that agents charge from 2 to 15% of the value of the sale, based on the region and the type of property. If the buyer specifically does not agree to pay the agent’s fee, this price will be built in the sales price.
3.2. A lawyer who will contribute to you in the process of choosing. Your lawyer designs and considers contracts from the reigning name and aware of all legal and administrative issues where you are faced. Your lawyer, of course, must fulfill any necessary proper inspection (checking the requirement of the seller’s property, fees for property, permission, etc.) And organize all the necessary documents to complete the process (registration of property, tax payments, etc.). </>
Lawyer - an abomo in spanish - will charge a fee in accordance with the service you need. This is possible to vary based on the complexity of the purchase. Many charge at least 1% of the cost of acquisition in the board, although part will try to charge more. Even 1% can be unreasonably high, given the activities that are involved in the usual purchase of expensive property without legal complications. In this case, yours is better to try to find a good lawyer who has the opportunity to levy an hourly basis.
3.3 select order using a mortgage, then it will bear five additional costs. First, there will be an assessment of the property that will require a mortgage supplier before providing a mortgage. This is paid for the buyer and will cost about half a thousand euros. Then there will be the costs of the mortgage itself. This changes depending on the supplier and also in accordance with the target branch. However, as usual, any fee for opening about 1% of the mortgage tariff is charged.Until monday november 12 of this year, you would also have to pay for a coal fee, famous at the local level as actos jurídicos documentos (ajd) for new mortgage loans (a tax that was varyed depending on the region, and is quite likely up to 3000 euros on a mortgage with a nominal cost . Out of one hundred thousand €), but the change in legislation means that from now on ajd will be paid by creditors. Finally, the mortgage will increase the expenses for the notary. Prices can once vary, therefore, always check the latest tariffs in advance with a professional, earlier, you do it. You can find more full -fledged information in the blog at spanish mortgage costs. The approach to the purchase price announced in the field of sale is plus other administrative ones, as well as documents charged by paragraph. A variable element that reflects the price of property and the number of proposals in business. In addition, they charge a small fixed fee for each copy of the documents (copia simple) requested by the buyer, and fees for other administrative tasks. This makes it difficult to say in advance what the notary will make up. Still, in order to provide you with an approximate idea, they are different from 0.1% of the declared property price (for real estate 400,000 euros or more) to about 0.4% (for real estate less than 100,000 euros). The notary will also add a number of other administrative ones, as well as documents that are ready to compose another 0.05% of the price for real estate) and vat on the total time rate.
If you open a mortgage in such circumstances, you need to spend money a notary of mortgage matters. They can re -vary from 0.1% of the mortgage tariff (for large mortgage loans over 400,000 euros) to zero, 4% (for small mortgage loans less than 100,000 euros). Prices can once vary, therefore, always check the latest tariffs in advance with a lawyer before you do it.
3.5 fees over the inscription in the spanish land register
This is a fee, in which case you pay for the fact that your title (and mortgage, if applicable) is inscribed in the land register. The costs associated with the inscription of the sale by means of the land registry are also almost always paid by the buyer and are calculated, respectively, the purchase at the field of sale. This fee is paid to the real estate registrar (register de la propidad). You will be able to find out more on the virtual one -the spanish register of land in the original. It is about 0, no. 1 for expensive properties) to zero, 3% (for the cheapest properties) of the declared property price. Vat on a standard rate is charged for a register fee.
4. Other expenses associated with the purchase of apartments in spain
, Although not strictly strictly transaction costs, like fees and taxes, there are other expenses that are also expenses that it should be borne in mind when ordering an apartment in spain. In the end, each of them leave one pocket - representing personally with you. An account with a bank in spain, and it may be necessary to transfer finances from other countries. It happens that international transfer costs - check in both banks - and when you need to exchange currency to buy euros, make sure that you use a trader to get a good exchange rate and overpay on the euro.
As soon as you receive funds at a construction site, you are interested in, will pay the seller immediately after when you complete the purchase. The most common way to do this is to buy a banker check for a notary public to provide the seller when you sign everything. Banks are trying to charge as much as possible for the issuance of banker projects, and i even knew what they were levied with 0.5% of the check price. However, you can always reinforce them for 50 to 60 euros. It all depends on the contract with this bank. Make sure you will clarify this with your bank, before asking for a check. The cost of granting real estate is completely directly dependent on what you have gathered. However, as a very general practical rule, an apartment with two bedrooms will cost 10,000 to fifteen 000 euros to provide excellent if you can find everything modern. Of course, there is no restriction whether you can spend enough, although you can, in addition, can withdraw from your hands with less than 10,000 if you have a limited budget (for example, each of ikea).
4.3 plusvalía municipal tax
Is usually paid a supplier, but this can become a problem for the buyer if the supplier does not pay it. Buyers are required to remain especially careful with this process, when a construction and trading concern does not live in spain. See the section below the price that should be borne in mind when selling real estate in spain to study expanded information. Learn more about plusvalia.
Before buying real estate in spain, you can also conduct a building or a structural examination and this will have the cost.Learn more about construction research in spain.
. .
What are the investments in the ownership of property in spain? Few will be investments on maintenance, such as cleaning, repair, reform, utility bills, gathering dirt and so on. They will be determined by the size and type of real estate you buy. A large villa with a garden and a pool will require much more strength and loss than a small apartment. To cleanse the figure of 12 €/hour, it is quite typical in the wider parts of spain, such as barcelona, madrid, marbella and balearcas (in 2022).
In addition to the daily costs of technical support, there is a number of costs like taxes and fees where property owners in spain collide. Impuesto sobre bienes inmubles - ibi
Local tax on the right to possess property in spain, regardless, because whether the owner will become a resident or not. It is designed using the products of the cadastral value in the spanish valiant disaster (administrative value, which is usually lower than the average cost, sometimes noticeable), the tax rate, the tax rate passes in the range of 0.4 to 1.1% of the disastrous valiant, depending on the spanish region .
An annual tax on wealth
Spanish name: impeso sobr el pitrimonio
This tax was changed a couple of times in nowadays. For the last situation, see the spanish wealth tax (patrimonio)
Spanish name: impuesto sobre la renta de residentes - irnr
not permissible, which have property in spain must pay an annual income tax that varies depending on whether the property is handed over or not. “The income tax that is based on the cadastral value, their property. During the writing of the tax rate, it was 25% of 2% of the cadastral value (calor catastral). Thus, for real estate with a cadastral value of one hundred thousand euros, the implemented income tax with a non -resident will be 500 eur annually. Tax rates change over time, so resort to the spanish tax expert at modern bets. Earnings and pay fees for a meaningless pastime. The taxable infrastructure, and the tax rate will be determined by laws, since they are necessary for the decisive circumstances of a person (taking into account the double taxation agreement - if any - between spain and the country of the origin of the non -resident). In many cases, non -residents simply pay a fixed rate in the amount of 24.5% of gross income, which they adopt from their property in spain, without permitted deductions. These are categories to citizens who are not the eu, including the british after brexit. Tax rates change over time, so call the spanish tax expert at the latest rates. The tax rate is extremely dependent on the state of income.
You should always check the web-site of the spanish tax agency with english subtitles.
Community
Property owners, which will become part of any development, the building, be it a complex where the general zones are jointly used with other owners, according to the law should be members of the community owners known as comunidad de propietarios. This will cause payment for the payment of the community for the maintenance of common areas, and other services for which the community vote. The fees will vary based on the size of the general zones, the costs of the game service and the service for which the community vote. The budget for the annual expenses of the community is approved by a majority vote of all owners (or representatives), which are contained at the annual general meeting of the community of owners. Owner and varieties of property. However, this should be born as a cost, all homeowners will face it. The mortgage creditor will insist that you are doing it). The insurance contribution in spain is lower than in the uk and other northern places, therefore, you have the opportunity in a short time to get a quote from any number of insurance brokers. If you strive to quantify the insurance premium in advance, you must find out which information insurance companies are needed in order to be prepared quotes, and at the end to collect this information during one of your visits or from a real estate agent. You should also consider the issue of obtaining content insurance and mortgage insurance, if applicable. If you want to rent your property, you need an insurance policy that reflects this. Private wells, solar panels, supplies of butan’s tank, a mobile phone and broadband satellite access on the internet are not required to pay any utility bills. But most british, who own real estate in villages or urbanization, will be required to pay for water, electricity, gas and a telephone line.All connections to the utility include a fixed fee for the connection and variable, taking into account use. When purchasing real estate, you have a chance to find out the cost of using the supplier. The costs that will remain depending on the dimensions, age and the location of real estate. The garden and the pool will also increase precious minutes and funds to care about ownership. In many areas where the british are inclined to buy, there are companies that make a full service for cleaning and maintenance. You will need to hire a company to manage marketing and renting real estate, although now you can order part of the marketing and booking yourself using web -online sites that have arisen to ensure this opportunity in the last 5 years. If you use a local company to give you full services you will probably have to pay money about 30% or more gross income from the company's rental. As a non-resident, you will not lose the chance to subtract any of the above payment for tax purposes. Buy your apartment to any of us you need to make monthly mortgage payments. They will remain depending on the circumstances of the mortgage, in which case you took. It is