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Could you please tell me what would be all the purchasing taxes and charges I would have to pay on a 50,000 euro apartment. Also the annual insurance costs. Many thanks.
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HI, I have calculated them and they are as follows:
PROPERTY PRICE 50.000,00 €
DEEDS PRICE 50.000,00 € (this is assuming that the whole value is declared on the deeds which it should be)
AJD/ITP (TAX) 8% 4.000,00 €
Notary + Registry (approx.) 1.500,00 €
Spanish Solutions fees (VAT incl) 1.573,00 €
TOTAL 7.073,00 €
COST OF PROPERTY: 57.073,00 €
You also may need to pay for NIES (required when buying a property in Spain), and a Power of Attorney if you are not planning to be here for the signing at the Notary. Insurance is harder to estimate but I believe it would be in the region of 80 to 120 euros per annum depending on the cover you took out. Please contact me on sales@spanishsolutions.net for what our fees include and I can advise you on several issues such as the taxes you will pay each year. Kind Regards, Amanda
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