What are the fees for purchasing a property in Sotogrande, Marbella, La Zagaleta or Southern Spain?

If you're considering buying a property in Southern Spain (Sotogrande, Marbella, La Zagaleta), it's essential to understand the various fees and charges associated with a Spanish house purchase. These additional costs typically range from 12% to 14% of the property's purchase price. Here's a breakdown of the fees:

1. Property Transfer Tax: This tax is applicable to second-hand properties and varies by region. In Andalucía (where Sotogrande, Marbella & La Zagaleta are located), the property transfer tax rate is typically between 8% and 10% of the purchase price.
2. Notary Fees: These fees cover the preparation of the property's deeds. Buyers are generally responsible for paying this expense, which is based on the property's selling price stated in the deeds. Budgeting between €600 and €1,000 is advisable for notary fees.
3. Property Registry Costs: These fees are associated with registering the property in your name and are typically a standard amount based on the property's selling price stated in the deeds. Allocating around €400 to €650 should be sufficient for property registry costs.
4. Gestoría: A gestoría is an individual who handles tax payments and paperwork related to the property purchase. The cost for this service is approximately €250 to €500 or 1% of the property's selling price.
5. Property Valuation Costs: If you need a mortgage to purchase the property, you'll need to account for the cost of a property valuation, which is usually around €800.
6. VAT (IVA): VAT applies to newly built properties instead of property transfer tax. The current VAT rate is approximately 10% of the purchase price.
7. IAJD: This tax applies to the documentation of legal acts and is paid for newly constructed properties. The IAJD cost is typically about 0.5% to 1.5% of the property's purchase price.

It is important to note that these fees may vary, and it's recommended to seek professional advice from real estate agents like Luxe-Villa, lawyers, or financial advisors to ensure you have a clear understanding of all the costs involved in purchasing a property in southern Spain.

Step by Step Buying Process

For more information, a wide selection of properties, and assistance with buying property in Sotogrande, Marbella, La Zagaleta, or southern Spain, please visit www.luxe-villa.com or email info@luxe-villa.com.