Overview of Approximate Costs for Purchasing and Owning Property
Property Transfer Tax:
The buyer is required to pay 4% of the declared value of the property, which is the fee for the transfer registered in the land registry. This amount is usually lower than the actual purchase price. Payment is made at one of the state-owned banks during the transfer/issuance of the title deed (TAPU).
TAPU and Related Formalities Costs: Costs for processing TAPU and associated formalities range from 1.500 to 5.000 EUR, depending on the type and size of the property (land, apartment, villa, etc.). These costs may change over time, so we recommend verifying the current information for your specific property with us.
Land Registry:
Part of the process includes:
Registration in the land registry
Administrative fees
Court interpreter services
Expert appraisal
Processing and issuing of the title deed
Power of Attorney at a Notary:
If you cannot attend in person to collect the title deed, you can authorize a representative. The cost of a power of attorney at a notary is approximately 300 EUR.
Utility Costs:
Electricity:
New connection: approx. 150 EUR (one-time fee upon purchase)
Name transfer on an existing connection: approx. 60 EUR (one-time fee upon purchase)
Water:
New connection: approx. 150 EUR (one-time fee upon purchase)
Name transfer on an existing connection: approx. 60 EUR (one-time fee upon purchase)
Annual Fees:
Property Tax: The annual property tax is set at 0.1% of the property value determined by the municipality. This tax is due by the end of May each year.
