TL:DR
Buying a property in Spain typically costs an additional 10–13% on top of the purchase price. This includes property transfer tax (6–10%), notary and registration fees (1–2%), legal services (1–2%), and mortgage costs (if applicable). New-builds are taxed differently (VAT + stamp duty).
How Much Does a Property Cost in Spain in 2025?
Property prices in Spain continue to vary significantly by region. As of mid-2025, here are some average price ranges:
- Costa del Sol: €2,500–€4,500 per m²
- Costa Blanca: €1,800–€2,800 per m²
- Madrid & Barcelona: €4,000–€6,000 per m²
- Inland/rural areas: €900–€1,500 per m²
For example, a two-bedroom apartment in Nerja may cost around €200,000, while a similar home in Marbella might exceed €400,000.
Breakdown of Additional Purchase Costs
Here’s a breakdown of typical costs buyers should plan for:
| Cost Type | Typical Range |
|---|---|
| Property Transfer Tax (ITP) | 6–10% (resale properties) |
| VAT (IVA) + Stamp Duty | 10% + 1.5% (new-builds only) |
| Notary Fees | 0.5–1% |
| Land Registry | 0.5–1% |
| Legal Fees | 1–2% |
| Mortgage Setup (if needed) | 1–2% of loan value |
| Property Valuation | €300–€500 (for mortgage buyers) |
Example:
Buying a resale apartment in Alicante for €200,000:
- Transfer tax (8%): €16,000
- Notary + Registry: €2,000
- Lawyer: €2,000
- Total additional cost: ~€20,000 → €220,000 total
Hidden or Optional Costs to Consider
- NIE number – Required for foreign buyers (~€20–€150)
- Power of attorney – If buying remotely (~€200–€500)
- Interpreter/Translator – Optional but useful if not fluent in Spanish
- Bank charges for international transfers
- Home insurance – Required if you take a mortgage
Buying New-Build vs. Resale Properties
| Type | Tax Applied |
| New-build | 10% VAT + 1.5% stamp duty |
| Resale | 6–10% transfer tax (ITP) |
New-builds tend to be more expensive upfront due to VAT, but may come with fewer maintenance issues and energy-efficient certifications.
How to Reduce Your Buying Costs
- Choose resale properties if looking to avoid VAT.
- Shop around for legal and notary services. Some offer fixed rates.
- Use a local mortgage broker to find the most cost-effective lender.
- Buy off-plan directly from developers, which may include incentives like waived notary costs.
Common Mistakes to Avoid
- Underestimating total purchase costs.
- Not hiring an independent solicitor.
- Relying solely on the seller’s agent.
- Skipping a property survey.
- Ignoring regional tax differences (e.g., Andalusia vs. Valencia).
FAQ: Buying Property in Spain in 2025
Can I buy a property in Spain as a non-resident?
Yes. There are no restrictions for EU or non-EU citizens. You’ll need an NIE (foreigner ID number).
Is it mandatory to use a lawyer?
It’s not required by law, but it’s strongly recommended for verifying ownership, debts, and handling contracts.
How long does the buying process take?
Typically 6–10 weeks from reservation to completion.
Do I need a Spanish bank account?
Yes, to pay taxes, utility bills, and receive mortgage funds.
Ready to Buy?
Start browsing properties in Spain on Bostello – and contact our trusted agents to guide you through every step.
