Question 1

How much are the buying costs for a new development property in Spain?

Accepted Answer

For new construction in Andalusia, expect approximately 13-14% on top of the property price: 10% VAT on residential, 1.2% Stamp Duty, notary fees (€500-€1,800), land registry fees, and attorney fees (1% + 21% VAT). Parking and storage spaces are charged at 21% VAT.

Question 2

What is the transfer tax for resale property in Andalusia?

Accepted Answer

Resale properties in Andalusia are subject to a 7% Transfer Tax (ITP), plus notary fees, land registry fees, and attorney fees. Total buying costs are typically around 9-10% of the purchase price.

Question 3

Can non-residents get a mortgage in Spain?

Accepted Answer

Yes. Non-residents can typically obtain a mortgage for 60-70% of the property value (LTV). Interest rates for non-residents currently range from 2.5% to 4%, with loan terms of up to 25 years. Spanish Riviera provides mortgage broker introductions as part of our service.

Question 4

What rental yield can I expect on the Costa del Sol?

Accepted Answer

Costa del Sol properties typically see 5-8% gross rental yields, depending on location, property type, and management strategy. Net yields after expenses (community fees, taxes, insurance, management) are usually 3-5%. Tourist areas like Estepona and Marbella tend to perform best.

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