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Whether you are planning a holiday home, retirement residence or long-term investment, buying property on the Costa del Sol is an exciting step.
However, many international buyers are taken aback by the additional purchase costs.
When закупуване на имот в Испания, you will incur additional costs such as данъци, legal fees and notary expenses. Based on my experience of helping buyers in Benalmádena, I would recommend budgeting an additional 10–14% of the property price to comfortably cover these costs.
That’s why I always explain this during the first call with our clients. A budget of 300,000 euros doesn’t mean a property price of 300K. It means a property for around 270,000 euros.
Typical Additional Costs When Buying Property in Andalusia
Several standard costs apply across the Costa del Sol real estate market, whether you buy a resale property or a new build.
The most common additional expenses include:
Property Transfer Tax (ITP):
- For resale properties in Andalusia, buyers pay a 7% transfer tax based on the purchase price.
VAT (IVA) for new properties:
- New builds are taxed differently. Instead of transfer tax, buyers pay 10% VAT.
Stamp duty (AJD):
- Applied mainly to new builds and mortgages. In Andalusia, this is usually around 1.2% of the purchase price.
Notary Fees:
- Cover the cost of the notary preparing and certifying the official purchase deed. This usually costs between €800 and €1,200, depending on the property price.
Land Registry Fees:
- Registering the property in the buyer’s name typically costs €400–€800.
Legal Fees:
- It is essential to hire a good independent lawyer when buying property in Spain. Legal services normally cost around 1% of the purchase price plus VAT.
Additional Administrative and Document Costs
- May add a further €300–600.
From a practical perspective, one of the most important tips I share with clients is to always calculate the full purchase budget before choosing a property. This will prevent any surprises later in the process.
Example: Total Costs for a €300,000 Resale Property
Let’s look at a realistic example for a second-hand property on the Costa del Sol priced at €300,000. This price level often represents a good apartment or townhouse in a decent location.
Estimated additional costs:
- Property Transfer Tax (7%): €21,000
- Legal fees (1% + VAT approx.): €3,600
- Notary fees: ~€1,000
- Land Registry: ~€600
- Administrative costs: ~€400
Estimated total additional costs:
≈ €26,600
Total purchase budget:
≈ €326,600
In practice, I usually advise buyers to keep around €30,000 available in cash for a purchase at this price point. It gives a comfortable margin for any small variations.
Example: Total Costs for a €300,000 New Build Property
New developments are increasingly popular on the Costa del Sol, especially with international buyers looking for modern design, energy efficiency, and community facilities.
For a new build priced at €300,000, the cost structure looks slightly different.
Estimated additional costs:
- VAT (10%): €30,000
- Stamp Duty AJD (1.2%): €3,600
- Legal fees (1% + VAT approx.): €3,600
- Notary fees: ~€1,000
- Land Registry: ~€600
- Administrative costs: ~€400
Estimated total additional costs:
≈ €39,600
Total purchase budget:
≈ €339,600
This is why buyers of new properties typically need around 13–14% extra on top of the purchase price.
How Much Cash Do Buyers Typically Need?
For most buyers purchasing property on the Costa del Sol, additional costs must be covered by their own funds, even if they are taking out a Spanish mortgage.
One rule that many buyers follow is:
- For a resale property, prepare for an additional 10–11%
- For a new build property, prepare for around 13–14% extra
Испански banks generally finance 60–70% for non-residents, meaning buyers usually need to have a significant portion of the purchase price, plus all the taxes and fees, in cash.
Having lived in Benalmádena for many years, I’ve noticed that buyers who clearly understand the full financial picture feel far more relaxed during the process. Once everything is transparent, the purchase becomes much smoother.
Get in touch if you need further assistance. Our specialists can handle all legal, financial and documentation issues with ease and confidence.
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