Costs related to buying a real estate in Catalonia

It’s important to know all the expenses charged to the seller in a home purchased in Catalonia. The buyer must cover extra expenses and taxes. Also, a mortgage requires additional expenses.

• The buyer must pay 2 taxes while acquiring a new property: Value Added Tax (IVA, Impuesto Sobre el Valor Añadido) – 10% and stamp duty (AJD) – 1,5%.
• The buyer must pay 1 tax while acquiring a secondary housing – tax on transfer of property (ITP) – 10%.
• Property Registry Filing (Nota Simple) – it is a short legal report of the property obtained from the Land Registry. It includes information about the current owner of the property, characteristics of the property (address, floor space, etc.), as well as debts and encumbrance. The cost of this document is 25 euros, it can be done within 1 day.
• Notarial expense: its amount depends on the price of the property. For example, if the price of the property is 400.000 euros, then the notary fee comes to 800 euros.
• The costs of registration of a new owner. Its amount also depends on the price of the property. If the price of the property is within 150.000 – 600.000 euros, then the cost is 30 cents for each 1.000 euros. For example, if the price of the real estate is 400.000 euros, the registration cost is 120 euros.

While formalizing a mortgage, the buyer will also need to cover the following costs:

• real estate appraisal, within 500 euros;
• bank fee for mortgage formalisation – 0,5% – 1,5% of mortgage amount.