What are the closing costs when buying property in Spain?

Expect 10–13% of the purchase price on top of the headline value, depending on region and whether the property is new or resale.

• For resale property:
• Transfer Tax (ITP) — 6–10% depending on autonomous community (e.g. 8% in Madrid, 10% in Catalonia, 7% in Andalusia)
• Notary fees — ~0.5%
• Land Registry — ~0.5%
• Legal fees — 1% (recommended for foreign buyers)

• For new-build property (off-plan):
• VAT (IVA) — 10%
• Stamp Duty (AJD) — 1.5%
• Plus notary, registry and legal as above

• Ongoing annual costs:
• IBI (council tax) — 0.4–1.1% of cadastral value
• Community fees if in an urbanisation
• Non-resident income tax — 19% on imputed rental income