02 | 03 | 2021
When buying a property on the Costa Blanca, it is necessary to take into account a series of expenses that the buyer has to face, apart from the price of the property. Notary fees. The fees charged by notaries are regulated by the State and are the same throughout Spain for the same services. The notary fees for a deed of sale for, for example, a house with a price of 250,000 euros are about 1000 euros. Land Registry. Once the deed of sale has been signed, it should be presented to the Land Registry - this is not obligatory but it is advisable. The registry fees are also regulated and depend on the value given to the property in the deed. For a property of 250,000 euros it is about 500 euros. Taxes. For the purchase of a new property on the Costa Blanca, the taxes to be paid are the Value Added Tax (VAT) which, in 2021, amounts to 10% of the deeded value of the property, and the Tax on Legal and Documented Acts (IAJD) which is 1.5%. For a used property on the Costa Blanca, instead of VAT, the Property Transfer Tax (ITP) is paid, which is also 10% in 2021. Gestoría. If we entrust to an agency the inscription of the title deed of the property in the Land Registry and the liquidation of the taxes, it will charge us around 300 euros. In a following publication we will detail the expenses that the mortgage has.
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