Petra Hönig
Petra Hönig

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Punta Prima Property for Sale

punta prima property for sale

Main expenses that you must take into account when buying housing in Spain

When calculating the expenses that you are going to pay in housing, do not take into account only the sale price, but also the expenses of purchase of the house and the taxes.

In Spain, if there is no specific agreement between the parties, "the costs of granting deeds shall be the account of the seller, and those of the first copy and the others subsequent to the sale shall be the buyer's account." Therefore, it is frequent that the expenses are paid in full by the buyer and the municipal surplus value is paid by the seller.

Apart from the purchase price, the following expenses must be taken into account when acquiring property in Spain.

Expenses of the sale.

  • The notary: in order to have access to the Property Registry, the sale must be formalized in a public deed before a Notary. Therefore, by writing and signing the deed, the Notary collects a fee called notarial fees that are legally established and that depend on the amount of the document signed.
  • Registration of the property: after the signing of the deed, it is taken to the Property Registry for registration. The Registrar collects a fee for it that is legally established and will depend on the price of the sale.
  • Management expenses: sometimes an agency is hired to carry out the procedures for payment of taxes and registration of the deed of sale in the Property Registry.
  • Mortgage: in the case of needing financing, there will be certain expenses derived from the granting of the mortgage.

Taxes associated with the sale.

  • VAT or ITP: a tax is paid or another depending on whether it is a first delivery of the house by the developer in which case VAT is paid or is a second sale, in which case the sale will be taxed with the ITP.
  • AJD: is paid on all purchases made with a mortgage. The type of tax depends on each Autonomous Community
  • Tax on the Increase of Value of Urban Land: also called, surplus value. It is calculated taking into account the cadastral value and the number of years that the seller has owned the property. Unless otherwise agreed, the seller should pay.

Petra Hönig offers you in Punta Prima property for sale.

If you've already decided to buy, you should utilise the hands of experts who will make everything easier. With more than 25 years' experience in the property market both in the UK and Spain Petra Honig is totally aware of how big a step buying a home, especially somewhere like Spain. Nobody will help you like us.

In this website you'll find the latest and finest selection of Resale and New Build properties. Besides, we have a portfolio of Exclusive Properties which comprises all kind of properties such as villas, townhouses, bungalows, detached homes, apartments, golf homes and luxury dwellings available only from Petra Hönig.

25 Jan 2017
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