I'm trying to get a handle on the costs of buying property in Spain so that we can work out our budget properly before we start looking at real, live apartments (i.e. we move on from glossy brochures!). Stamp duty is obviously an important element of the purchase of a newly built apartment but I've been told three different percentages. Some sites I've looked at say half a percent. Most say 1%. But the only agent I contacted so far says 1.5%.

Can anyone tell me the correct figure?

Hi
Its 1%. But there are many other costs of course!!
good luck!

Thanks for that. Yep, I know there are plenty of other costs ( ) but stamp duty was the only one I couldn't calculate with certainty.

I shall be able to pin down our budget now I know it's 1%. Thanks again.

Hi,

As a rough rule of thumb budget for 1% for Stamp Duty. However, due to the fact that autonomous communities have certain powers in relation to taxation regional variations do exist. For example, in the Communidad Valenciana on the purchase of your first property as a principal place of residency you can pay 0.1%. Under certain circumstances you can also reduce your mortgage tax bill if you are taking a loan.

In all instances it is wise to seek professional assistance and not take a developers word for it.

Hope that this assists.

Glyn Moran
Partner
CB Legal & Fiscal Consultants
Tel.: +34 966 472 660 / +34 699 838 795 / Fax: +34 966 472 510
info@legalandfiscal.com / Costa Blanca Legal and Fiscal
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