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Property purchase costs in Spain?

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fecherklyn
10/24/2019 10:00 EST

My wife and I are retirees investigating a relocation to Spain in 2020 and with an exploratory trip for several months in early Spring. However, I would like to prepare the budgetary aspects of living there now and would appreciate any input you can give on the following cost of living items:

We may purchase a property (Alcante?) but I would like to have some indication of the costs involved.

What are the purchase taxes (Iva, etc) , if any. What are the realty agency fee levels, and the legal/registration costs and do these vary according to whether the property is old, or new?

Similarly, how much does it cost to own a property in the context of condominium and municipal charges. As a basis, what should one expect to pay for a property purchased at Euro 200,000?

Any information will be much appreciated. Please do not hesitate to PM me if you prefer to keep the details private.

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cwells67
10/24/2019 14:59 EST

Hi - both Valencia and Alicante have a high number of real estate agents and services focusing on English-speaking customers, although some Spanish always helps. All of the questions you ask vary by region, and as someone who lived in Valencia, I highly recommend renting for six months to a year first. You definitely don't want to suddenly find that your home is located in the local "summer party spot" or there is a social club that ramps up during festival seasons below your windows. Renting is easy and remarkably cheap if you are used to living in a city, and gives you a chance to get to know several neighborhoods and prices before plunking down a lot of money. Also - Written from the British perspective, this article is a treasure trove of information about buying property as an expat. https://www.expatica.com/es/housing/buying/buying-103805/ Good luck! -Christopher

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