ENGLISH

Living in Spain is fantastic and we are happy to help you find your home or investment here. Of course, we also assist with the necessary financial and legal knowledge.

The cost of the lawyer’s fee is based on the property’s purchase price and amount of work.

A good preparation is to have the financing ready before you leave.

Price

For new build, the price stated by the client applies. In the case of resale items, the price can be negotiable.

Additional Costs

In addition to the purchase price, you should expect about 12-14% in additional costs. The costs relate to Taxes, Notary, registration fees, connection fees and attorney’s fees.

Taxes

For newly built properties, a VAT of 10% of the purchase price and a stamp duty of up to 2% will be added. For resale properties, a transfer tax of 10% will be added, there is no stamp duty here.

Notary Fees

In Spain, a notary always participates when the seller and the buyer sign the purchase contract.

The buyer is responsible for the notary’s fee.

The fee varies depending on the scope and is based on the purchase price.

To finance the purchase

You cannot take out a loan in Sweden with the Spanish property as security, however, you can mortgage property in Sweden to buy the property in Spain.

You can also borrow money for the purchase of the Spanish property through your new bank here.

Operating Costs

The operating costs obviously depend on the type of property in question and how much you use it. A benchmark for an apartment with 2-3 bedrooms can be about SEK 1200-2000 / month.

The cost includes, among other things, community tax, electricity, water, home insurance, and property tax.

You most conveniently pay the operating costs via direct debit through your new bank account here in Spain.

Property Tax

In Spain, you pay both a municipal property tax (suma) and a state property tax. Both are based on the assessed value.

The municipal tax rate varies between different municipalities 0.4-1.1% and the state rate of about 0.25-0.5%, this must be paid at the end of the year October-December.

You pay no property tax in Sweden on the Spanish property.

Duty to Investigate

In Spain, resale properties are sold in their existing condition, as a buyer you are responsible for examining the property before you sign the purchase contract.

When you have agreed with the seller and the broker, a purchase contract is written, which states, among other things, the price of the property designation and the date of entry.

You also pay a reservation fee as a guarantee that you will complete the deal.

Reservation Fee or Down Payment

If it is new build you buy, a reservation agreement is drawn up with a payment plan with the client.

The reservation fee is about 6000 -10000 euros.

If it is a resale property, you pay a down payment of 5-10% of the purchase price, and the final payment is made on the day of occupancy.

NIE Number

The NIE number is a Spanish tax identification number that you need, among other things, to be able to open a bank account and write on the law.

The number is a prerequisite for you to be able to own a property in Spain. The application can be made to the Spanish police, the Spanish embassy or the consulate in Sweden.

It is also possible to give a lawyer or a representative a power of attorney to make the application. The power of attorney can also include contract writing etc.

Notary

A notary public is an officially appointed lawyer with responsibility for verifying the identity of the seller and the buyer.

The notary informs about any debts connected to the property, ensures that the payment is correct according to Spanish law and that it has reached the seller before the agreement is signed.

The notary also prepares the deed of sale which is the basis for your legal application.

Title Deed

The legal registration takes about 3 months, when it is registered and all taxes and fees are paid, you get it back with the registration certificate.

Access

Access and receipt of keys takes place after the signing by the notary.

Welcome to Spain and your new property