The question of total budget is the first to settle, and it is where poorly informed buyers get it most wrong. In Catalonia, purchase costs are noticeably higher than in France. Here is the breakdown, item by item, for a resale property.
ITP: the big one
The Impuesto de Transmisiones Patrimoniales is the tax paid by the buyer of a resale property. In Catalonia, it is applied in bands: around 10% up to €600,000, then a higher rate above that, the scale having been raised for the most expensive properties. For a €300,000 property, allow around €30,000 in ITP. Some special cases benefit from reduced rates (young buyers of a main home, large families), rarely applicable to non-residents. Always check the scale in force at the time of your purchase, as it changes.
Notary and land registry
Notary fees and land registry fees are set by official sliding scales. Together, allow generally between 1% and 1.5% of the price, proportionally more for smaller amounts.
Additional costs
- The gestoría, which handles the post-signing formalities (paying taxes, registration): a few hundred euros.
- With a Spanish mortgage: property valuation (tasación) and bank fees.
- Translations, any power of attorney, travel.
And for a new-build?
A new-build does not pay ITP but 10% VAT, plus stamp duty (AJD) of around 1.5% in Catalonia. The total is therefore slightly higher than for a resale property.
Remember the order of magnitude: 12% to 14% in costs. An all-in budget of €350,000 lets you aim for properties around €305,000 to €310,000, not €350,000.
