Costs of buying a house in Spain (2026): budget for 10 to 12%

By Nick Van de Velde · Last updated: 30 August 2026

Budget for 10 to 12% in costs on top of the purchase price. The largest block is the transfer tax of 9% (reduced from 10% since 1 June 2026); the rest is notary, registry and lawyer. If you can spend €400,000, you are really looking up to about €360,000. Below is the complete list, with the rates that actually apply now.

The transfer tax (ITP): 9%, not 10%

If you buy an existing property in the Valencia region, you pay ITP. Since 1 June 2026 that rate has been reduced from 10% to 9%. Above 1 million euros the rate is 11%.

A small difference on paper, thousands of euros in practice: on a €350,000 property that is €3,500. Many calculators and articles online still use the old rate of 10%. So check the date of what you are reading.

New builds: IVA plus AJD

If you buy a new build directly from the developer, you pay no ITP but 10% IVA (VAT) plus 1.4% AJD (stamp duty). Tax-wise, new builds are therefore slightly more expensive than resales, and since the ITP reduction a little more still.

Notary and land registry: 1 to 2%

The notary fees and the registration in the land registry together usually come to 1 to 2% of the price, on a sliding scale: the higher the price, the lower the percentage. These fees are set by law, so there is little to negotiate here.

The lawyer: about 1%, and in my view not optional

Your own lawyer is not compulsory in Spain. My advice: always get one, and one who is independent of both the seller and the agent. Budget about 1%. A few thousand euros in checks can save tens of thousands in remediation; which checks exactly, you can read in my guide on the legal checks before you sign.

Mortgage costs (only if you finance)

If you borrow from a Spanish bank, add the valuation (a few hundred euros) and any bank fees. The big cost of the mortgage itself (AJD on the loan deed) has been carried by the bank since 2019, not by you. Non-residents typically borrow 60 to 70%; so allow for 30 to 40% of your own funds plus the costs above.

Watch out for the valor de referencia

This is the trap most buyers do not know about. The tax is not simply calculated on what you pay, but on the higher of 2 amounts: your purchase price or the valor de referencia, the official reference value of the property. If that reference value is above your purchase price, you pay tax on an amount you never paid.

That value can be checked in advance, free of charge. I check it as standard for every property a client of mine wants to bid on.

A worked example

A resale apartment of €300,000, bought with your own funds:

• ITP 9%: €27,000
• Notary and registry: ± €3,500
• Lawyer: ± €3,000
• Total: ± €33,500, or around 11%

The whole buying process, from NIE to notary, is set out step by step on the buying page. Still deciding where to search? Then start with the zones of Calpe and Benissa.

Questions about this

Further reading

• Is this Spanish house legally sound? 5 checks before you sign