The property purchase in Spain

Dear client, below you can find some additional information which we hope you will find useful when considering your property purchase in Spain.

Agency Fees

No fees are charged by the agency to the buyer.

Property Tax and other fees

As a buyer you should budget for a further 11-14% on top of your purchase price to cover legal fees, taxes and other buying costs. Annual fees for the property that you should consider are your IBI (which is your local rates). These can vary from 0.5-1.5% of the ratable value of your property dependent on the town or area purchased.

Other local community fees

Most complex and apartment developments charge community fees, however this amount varies from every development dependent on the services offered. This can be advised more accurately once you have found a property that is suitable.

Other costs to consider

Electricity has increased in price here in Spain and you could expect to pay on average 100-120€ per month for electric on a 2 bed apartment with standard usage. Water would be around 40-60€ per month again based on standard usage.

Property management and Rentals

If you are looking to rent your property out, we have excellent property managers to oversee your property & rentals on your behalf. Please contact us directly ( for all information regarding rental income and costs.


Standard home insurance covers both buildings and contents and would cost around 300€ per annum for a property with a value of around 200,000€.


All mortgages in Spain are available for non-residents with banks currently offering between 60%-70% on urbanized properties and up to a maximum of 50% on rustic properties. Spain, like all other countries throughout Europe have tightened up the criteria for mortgage lending and mortgages are granted subject to status. With this in mind we work closely with independent mortgage advisors that have extensive knowledge in the non-resident mortgage market regarding current mortgage products and interest rates. They will offer you an invaluable free mortgage qualification service that will allow you to find out what you can borrow based on your own circumstances without any commitment from yourself. This is advantageous as you will know exactly what you can do or buy prior to making any decision on a property. If you would like us to put you in contact with the mortgage advisers for this free service please let us know and they will contact you independently.

Buying Process

The standard buying process in Spain is as follows. 6000€ reservation deposit. This deposit is normally non refundable and demonstrates your seriousness in buying, and takes the property off the market for you to continue with the purchase. Approximately 14 days later you will pay 10% of the purchase price and sign the private purchase contract. It is at this point that the purchase becomes legally binding. The balance of the purchase price is then usually paid upon completion of the purchase which is within a timescale mutually agreed between you as the buyer and the vendor. If you have any questions regarding any of this information, please do not hesitate to contact us. We look forward to hearing from you.