Re: Re: Foreign home buyers return to Spain

#115944

The Australian
Participant

@chopera wrote:

For new build property the purchase tax (VAT or IVA in Spanish) is now 10% and I guess you have to add on maybe 3% to cover other costs (notary, mortgage, etc).

there are other taxes as descri¡bed here: https://www.spanishpropertyinsight.com/tax-and-pensions/property-taxes-for-non-residents/

but as a rule of thumb I’d budget for 13% purchase costs, at least €200/month on local council taxes, insurance, maintenance, community fees, etc, and then say €10k to sell the place.

It all adds up, and when you compare it to renting I find renting usually wins.

(Oh and take Jake with a pinch of salt by the way)

Many thanks for your reply…but how can be there:

€200/month on local council taxes, insurance, maintenance, community fees

?

Let’s say I am interested in a brand new apartment in the Canary Islands where maybe the IVA is even lower (I think?) and I don’t want to sell the place, just live in it as main residence.

Thanks