Property Selection with Our Experts

Finding the right property in Spain can be challenging. Our experts guide you through the selection process, evaluating legal and financial factors to ensure you make an informed decision.

1- What is the NIE number?

The NIE (Número de Identificación de Extranjero) is a unique identification number for foreigners. It is required for purchasing property, opening a bank account, and handling official procedures in Spain.

2- How much is the property transfer tax in Spain?

The property transfer tax (ITP) varies by region and property value, typically ranging from 6% to 10% for resale properties. For new properties, buyers must pay 10% VAT (IVA) and 1.5% stamp duty (AJD).

3- What additional costs should I expect?

Besides the transfer tax, property purchases include additional costs:
• Notary fees: approximately 0.5%
• Land registry fees: 0.2-0.5%
• Legal fees: usually around 1%
The total additional costs are around 1.5% of the purchase price.

4- Do I need a Spanish bank account?

Yes, a Spanish bank account is required for property transactions and is necessary for automatic utility bill payments (water, electricity, gas).

5- What is a bank check for property payment?

A bank check (cheque bancario) is a secured payment instrument issued by a Spanish bank. It is the safest way to transfer the purchase price and is handed over to the seller at the notary appointment.