Buying Costs Spain (Gastos de compra)
Gastos de compra are the full set of purchase-related costs on top of the price — tax, notary, land registry, tasación and, where used, a lawyer — and are paid from equity as a rule, not financed by the bank.
What the individual items add up to
The largest item is usually the tax itself — ITP for a resale property, or IVA plus AJD for a new-build (see ITP (Impuesto Transmisiones)). On top come notary fees for the deed, land registry fees for registration, and the cost of the tasación, the independent valuation every lending bank requires. Buyers who hire a Spanish lawyer for the transaction — often advisable for non-residents — add a further, but predictable, cost line.
How much to budget for in total
In practice, Gastos de compra typically add up to around 10–14% of the purchase price depending on region and price level — the range is wider than in many other countries because of the regionally varying ITP rate. Knowing the exact rate for the relevant region allows for a far more precise budget than a rough flat assumption.
Why the Gastos dominate equity planning
Because Spanish banks already apply a lower LTV to non-residents (see LTV para no residentes), the required equity reserve is the sum of the unfinanced portion of the purchase price and the fully separate Gastos de compra — both figures together, not in isolation, give the realistic total capital requirement for the purchase.
Related glossary terms
Property Transfer Tax Spain (ITP)
The ITP (Impuesto sobre Transmisiones Patrimoniales) is the Spanish transfer tax on the purchase of a resale property. The rate is set by the respective autonomous region and therefore varies regionally.
Spain Mortgage LTV for Non-Residents
The maximum loan-to-value (LTV) for non-residents in Spain is usually significantly lower than for residents; the lower of purchase price and appraised value (tasación) generally applies. Accordingly, more equity is required.
Tasación (Valuation)
The Tasación is the property valuation prepared by an approved company. Spanish banks require it before a loan offer; the loan-to-value refers to the tasación value.
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