The listing price is never the full cost. When you buy a property in Spain you should budget roughly 10% to 15% on top of the purchase price to cover taxes, notary, land registry and legal fees. The exact figure depends on the region, whether the property is a resale or a new build, and whether you are taking out a mortgage. This guide breaks down every cost for 2026, with figures relevant to buyers in Murcia and the Costa Cálida.
The main cost: property transfer tax or VAT
The biggest single cost is tax, and which tax you pay depends entirely on whether the property is second-hand or brand new.
Resale property: Transfer Tax (ITP)
If you buy a resale property, you pay Impuesto de Transmisiones Patrimoniales (ITP), the property transfer tax. This is set by each autonomous community. In the Region of Murcia the standard rate is 8% of the property value.
An important point since 2022: the tax is generally calculated on the higher of the actual price or the official “reference value” (valor de referencia) set by the cadastre, not simply on what you paid. Your lawyer will check this before completion so there are no surprises.
New-build property: IVA and Stamp Duty (AJD)
If you buy a new build directly from a developer, you do not pay ITP. Instead you pay:
- IVA (VAT) at 10% of the purchase price, plus
- AJD (Stamp Duty), which varies by region and is typically in the 1.5%–2% range in Murcia.
So a new build usually carries a slightly higher combined tax burden than a resale.
Notary fees
Every purchase must be signed before a notary, whose fees are fixed by law on a sliding scale linked to the property value. For a typical purchase you should budget somewhere in the region of €600 to €1,500, depending on the price and the complexity of the deed.
Land Registry fees
Registering the deed in your name at the Land Registry (Registro de la Propiedad) is also charged on a regulated scale. Budget roughly €400 to €1,000+, again depending on the property value.
Legal fees
Independent legal representation typically costs around 1% to 1.5% of the purchase price plus VAT, with most firms setting a minimum fee. This covers due diligence, contract review, tax handling and completion. It is optional in law but strongly recommended, as we explain in do I need a lawyer to buy property in Spain.
Mortgage costs (if you borrow)
If you finance the purchase, note that under Spain’s 2019 mortgage reform the bank now pays most mortgage set-up costs (mortgage deed notary, registry and stamp duty on the loan). As the buyer, you generally only pay for:
- The bank valuation (tasación), usually around €300–€600, and
- Any arrangement fee the lender charges.
Non-resident buyers should also expect banks to require a larger cash deposit, often around 30% of the property value.
Ongoing costs to plan for
Buying costs are only the start. As an owner you will also face annual costs including:
- IBI (council property tax),
- Community fees if the property is part of a development,
- Non-resident imputed income tax if you do not live in Spain (and rental-income tax if you let it out).
Our tax and accounting team handles these obligations for owners across the Costa Cálida.
Frequently asked questions
What is the total cost of buying a house in Spain? As a rule of thumb, budget 10–15% of the purchase price for taxes and fees combined. Resale homes tend to sit at the lower end, new builds at the higher end.
How much is property transfer tax in Murcia? The standard ITP rate in the Region of Murcia is 8% of the property value for resale properties.
Do I pay tax on the price I paid or a different value? Since 2022, ITP is generally calculated on the higher of the price paid or the official cadastral reference value. Your lawyer checks this in advance.
Who pays the mortgage costs in Spain? Since the 2019 mortgage law, the bank pays most mortgage set-up costs. The buyer usually only pays the valuation and any arrangement fee.
Get an exact cost breakdown for your purchase
Every property is different, and the reference value, licences and mortgage arrangements all affect the final figure. Before you commit, let us prepare a clear, itemised estimate so you know exactly what you will pay.
Book a consultation or contact PALS in Puerto de Mazarrón and Alhama.
Antonio Legaz Morales
Antonio Legaz Morales is the founder and CEO of PALS Solicitors. A qualified Spanish lawyer, he is a registered member of the Ilustre Colegio de Abogados de Cartagena (Bar Association of Cartagena, Murcia), collegiate number 1106, and holds a law degree from the Universidad San Pablo-CEU in Madrid.
With more than 25 years in active legal practice, Antonio specialises in property conveyancing, Spanish tax, and inheritance and succession law for international clients on the Costa Cálida. He advises UK, Irish and other foreign nationals buying, selling and inheriting property across Puerto de Mazarrón, the Mar Menor and Condado de Alhama, guiding them through the Spanish legal and tax system in plain English.
View his professional profile on Legalia.
