Fees when Buying a Villa in Marbella, Spain
The fees of buying a villa in Marbella can vary widely depending on several factors, such as location, size, and amenities. On average, you might expect to pay anywhere from €1.500,000 to several million euros for high-end, luxury villas in prime locations. When buying a property in Marbella, you have to add some fees to the agreed sales price.
Costs to purchase a property in Marbella
Buying a home in Spain is no easy task without professional guidance, as the process is usually not as straightforward as many people would like. When buying real estate in Marbella, Andalusia, you’ll need to budget for various fees and costs beyond the purchase price. Here are some common fees to consider:
- Property Transfer Tax (ITP): 7% of the purchase price. This is a one-time tax on the transfer of a resale property.
- IVA: 10% of the purchase price. This is a one-time tax on the transfer of a new property, when you buy directly from the developer.
- AJD: 1.2% of the purchase price in Andalusia.
- Notary Fees: These fees cover the cost of notarizing the purchase contract. They usually range from €500 to €1,000.
- Land Registry Fees: Registering the property in your name can cost between €400 and €800.
- Layer (optional): Hiring a reliable lawyer to assist with the purchase can cost up to 1% of the purchase price.
- Valuation Fees (optional): If you require a property valuation for a mortgage, this can cost around €300 to €500.
- Mortgage Fees (optional): If you’re taking out a mortgage, you might incur additional costs such as arrangement fees and mortgage registration fees.
- Stamp Duty: This varies, but it is typically included in the property transfer tax.
It’s a good idea to consult with a local real estate agent or lawyer to get a detailed estimate of these costs based on your specific situation.
This form will inform you of all the costs and taxes applied when purchasing a property in Marbella. The primary difference is if a property is purchased directly from a developer or if the property was already previously owned and inhabited.
An Example of the added Costs / taxes when buying villa in Marbella.
Purchase Price: 1.000.000 €
Property is bought directly from a developer | ||
VAT | 10% | 100.000 € |
Stamp Duty | 1,20% | 12.000 € |
Total taxes to pay | 112.000 € | |
Approximation of other purchase costs, depending on the professional | ||
Lawyer fees (optional) | 8.000 € | |
Notary fees | 800 € | |
Registry fees | 400 € | |
Cost of cheque / bank transfer | 200 € | |
Total of further costs to pay | 9.400 € | |
Total cost to purchase a property directly from a developer: | 121.400 € |
Mortgage for Non-Residents.
If you are looking into applying for a mortgage in a Spanish bank to purchase the property, it is possible to do so. Currently, Spanish banks can issue mortgages up to 70% of the purchase price to non-residents.
There are exceptions where it is possible to apply for a higher amount, but the higher the purchase price, the more complicated it becomes to obtain higher %. The only further cost to receive the mortgage is the bank valuation, which can cost between 500 € – 4.000 €.
These numbers are approximate and are based on common situations for non-resident buyers. There can be other exceptional cases when the taxes and costs applied vary, but don’t worry! Our experienced sales agents will always guide you in the process and provide recommendations on the best solutions, subject to personal meetings with professional tax advisors that we can organize! If you have another budget or criteria in mind, We at LuxuryForSale.Properties can help narrow down the options!