Benijofar Spanish Property Sales Tel UK: 01233 501704 Tel Spain: (0034) 965724001
	E-mail: sales@village-property-spain.com

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Typical Costs of buying in Spain One of the attractions of Spain is the lower cost of living compared with the UK. Housing, food, travel, clothing, and entertainment are all much cheaper. However, property purchase is one of the few areas where the UK is below the European average of around 10%.   SPAIN EITHER: I.V.A. (VAT) on new construction 7% of the contract price (16% on land) OR: Transfer Tax (Stamp Duty) on resales 7% of the declared value PLUS: Legal Fees 1% approximately Notary and Land Registry Fees 1% approximately Title Deed Tax 0.5% of the declared value Plus Valia tax on any increase in land value varies, and may not even apply. TOTAL: Typically around 10%   Typical Annual Costs of OWNERSHIP ABROAD Community Fees: Controlled by the committee of owners and based on a percentage of the cost to maintain any communal facilities provided, relative to the size of your property. Charges vary, but usually between 0.5% and 1% of your property value. Generally don't apply to villas outside urbanisations. Local Rates Vary. 0.2% is typical Property Tax 0.2% of rateable value Insurance 0.5% to 1% of value Water and Electricity have a standing charge and metering Similar to UK and Ireland Fiscal Representative (Gestor) to manage tax returns, official payments etc.- around £250.

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