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Why Buying Property in Spain Costs More Than You Expect
Buying a home in Spain sounds like a dream. The sun, the lifestyle, and the price tags seem perfect. However, the true cost is often much higher than the listing price. If you’re thinking about buying property in Spain, it’s important to understand all the hidden costs and risks. Upfront Costs Add Up Quickly First, the price you see online is just the beginning. For new homes, you pay a 10% VAT right away. For resale properties, there’s a transfer tax between 6% and 10%, depending on the region. On top of that, you have notary fees, land registry costs, and legal fees. These can add another 3% to 5%…
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Spain’s ‘100% Property Tax’: What Every Expat Needs to Know
Have you been hearing alarming whispers about a massive new property tax in Spain? Talk of a “100% property tax” has certainly spread quickly. It sounds incredibly worrying, especially if you’re dreaming of owning a piece of that beautiful life overseas. But what’s truly going on? Let’s take a deep breath and break down the facts, because understanding these big details really matters. Just a Proposal, Not a Done Deal First, and this is the most crucial point: this tax is only a proposal. Spain’s Prime Minister, Pedro Sánchez, announced it in mid-January 2025. The core idea is to impose a tax of up to 100% on properties bought by…
