Important Notice - Please Read
As a broad, general guide, you should allow an extra 10% - 13% of the purchase price to cover the total purchase taxes (VAT and Stamp Duty) and other fees (legal, notary, land registry and bank costs).
Also, please be aware of current VAT and Stamp Duty charges. As from 1st January 2013. the property purchase tax for newly built properties went up from 4% to 10%, while tax for resale properties went up from 7% to 8%. Commercial properties and plots of land are taxed at 21%.
The Stamp Duty (known as Actos Juridicos Documentados - AJD) is 1% of the purchase price, might go up in some regions, so be sure to check with us on the latest rate!
Now you know what's what, time for the good bit, let's make those dreams a reality!