Taxes on buying and maintenance of a property in Spain [2021]
Tax on buying property in Spain. Taxes on the purchase and maintenance of a property in Spain [2021]. Taxes on buying property in Spain. Property in Spain.
https://youtu.be/JVHAp94DdY0
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In Spain there are two types of costs and taxes:
1. Costs and taxes for the PURCHASE of real estate.
2. Costs and taxes for the MAINTENANCE of the property.
COSTS AND TAXES FOR THE PURCHASE OF REAL ESTATE
There are 6 main types of costs:
№1: VAT (the Value Added Tax).
In Spain this tax represent 10% of the value of the property.
№2: AJD (Stamp Duty)
This is a mandatory tax on the purchase of a new property. Basically, it depends on whether you are a resident in Spain or not. For non-residents, the amount of this tax is 1.5% of the value of the property, for the residents it's 0.1%.
№3: Lawyer services.
The list of lawyer services includes the following:
open a bank account;
obtain the NIE number, that is the foreigner's tax number;
check all the documents of the chosen property;
prepare all the papers for signing the final purchase agreement - the deeds;
register the property and the new owner in all necessary instances.
Up to 1000 €.
№4: Notary services.
Up to 500 €.
№5: Registration fee.
Up to 500 €.
№6: Water and electricity connection.
About 300 €.
EXAMPLE:
Let's take villa price: 200.000 €.
200.000€ + 20.000€ (10% VAT)= 220.000€
220.000€ + 3.000€ (1,5% Stamp Duty) = 223.000€
223.000€ + 1.000€ (Lawyer) = 224.000€
224.000€ + 500€ (Notary) + 500€ (registration fee) = 225.000€
225.000€ + 300€ (water, electricity) = 225.300€
For a house that is worth 200.000 €, when we add all the purchase taxes and costs, we have the final price of 225.300€. That is to say, we added another 12.6% to the value of our property.
200.000€ + 12,6% (225.300€) = 225.300€
TAXES AND COSTS FOR THE MAINTENANCE OF REAL ESTATE
In general, they can be divided into 4 categories.
№1: IBI Council tax.
Alias - the annual property tax. A villa of the type that we have chosen costs around 500€ per year.
№2: Community Fees.
These fees are paid for the maintenance of a residential complex if it has common pools, gardens, etc. In our particular case, there is no community, because we are talking about a detached villa. But, in general, the average cost of this kind of fees is 60-70 euros per month.
№3: Garbage collection fee.
Up to 120 € / year.
№4: Utility bills
The payments for water and electricity. They depend on your consumption (the average cost for water is 140 € per quarter, and for electricity - 60-70 € per month).
So, the monthly maintenance of your villa, considering all the fees, will cost you 200-220 €.
0:00 - Hello
0:28 - Taxes for the PURCHASE of real estate.
4:07 - Taxes for the MAINTENANCE of the property
---------------------------------------------------------------------------------
CONTACT US:
📞 + 34 965 020784
📧 sales@wtgspain.com
----------------------------------------------------------------------------------
WE ONLINE:
🔹 Our website: https://wtgspain.com/link/site
🔹 Facebook: https://www.facebook.com/spainwtg
🔹 Instagram: https://www.instagram.com/spainwtg
----------------------------------------------------------------------------------
SUBSCRIBE:
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★ NIE in Spain. How to get NIE number in Spain
https://wtgspain.com/video/get-nie-number-in-spain?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewNie
★ How to Make Money Renting property in Spain
https://wtgspain.com/video/earn-money-by-renting-property-in-spain?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewRenting
★ Taxes on buying property in Spain
https://wtgspain.com/video/taxes-on-buying-property-in-spain?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewTaxes
★ Why is it profitable to buy Property in Spain?
https://wtgspain.com/video/buying-property-in-spain-profitable?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewProfitable
★ How to get a mortgage in Spain
https://wtgspain.com/video/mortgage-for-spanish-property?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewMortgage
★ How to open a bank account in Spain | WTG Spain
https://wtgspain.com/video/how-to-open-a-bank-account-in-spain?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewBaccaunt
★ How to buy property in Spain
https://wtgspain.com/video/property-in-spain-how-to-buy?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewhtobuy
#spanishrealestate #costablancaproperty #spanishproperty
Видео Taxes on buying and maintenance of a property in Spain [2021] канала Property in Spain. WTG Spain
https://youtu.be/JVHAp94DdY0
Contact Whatsapp:
https://wa.me/34611070232
Аpply to buy real estate in Spain 🏠
📌 https://wtgspain.com/link/apply_property
In Spain there are two types of costs and taxes:
1. Costs and taxes for the PURCHASE of real estate.
2. Costs and taxes for the MAINTENANCE of the property.
COSTS AND TAXES FOR THE PURCHASE OF REAL ESTATE
There are 6 main types of costs:
№1: VAT (the Value Added Tax).
In Spain this tax represent 10% of the value of the property.
№2: AJD (Stamp Duty)
This is a mandatory tax on the purchase of a new property. Basically, it depends on whether you are a resident in Spain or not. For non-residents, the amount of this tax is 1.5% of the value of the property, for the residents it's 0.1%.
№3: Lawyer services.
The list of lawyer services includes the following:
open a bank account;
obtain the NIE number, that is the foreigner's tax number;
check all the documents of the chosen property;
prepare all the papers for signing the final purchase agreement - the deeds;
register the property and the new owner in all necessary instances.
Up to 1000 €.
№4: Notary services.
Up to 500 €.
№5: Registration fee.
Up to 500 €.
№6: Water and electricity connection.
About 300 €.
EXAMPLE:
Let's take villa price: 200.000 €.
200.000€ + 20.000€ (10% VAT)= 220.000€
220.000€ + 3.000€ (1,5% Stamp Duty) = 223.000€
223.000€ + 1.000€ (Lawyer) = 224.000€
224.000€ + 500€ (Notary) + 500€ (registration fee) = 225.000€
225.000€ + 300€ (water, electricity) = 225.300€
For a house that is worth 200.000 €, when we add all the purchase taxes and costs, we have the final price of 225.300€. That is to say, we added another 12.6% to the value of our property.
200.000€ + 12,6% (225.300€) = 225.300€
TAXES AND COSTS FOR THE MAINTENANCE OF REAL ESTATE
In general, they can be divided into 4 categories.
№1: IBI Council tax.
Alias - the annual property tax. A villa of the type that we have chosen costs around 500€ per year.
№2: Community Fees.
These fees are paid for the maintenance of a residential complex if it has common pools, gardens, etc. In our particular case, there is no community, because we are talking about a detached villa. But, in general, the average cost of this kind of fees is 60-70 euros per month.
№3: Garbage collection fee.
Up to 120 € / year.
№4: Utility bills
The payments for water and electricity. They depend on your consumption (the average cost for water is 140 € per quarter, and for electricity - 60-70 € per month).
So, the monthly maintenance of your villa, considering all the fees, will cost you 200-220 €.
0:00 - Hello
0:28 - Taxes for the PURCHASE of real estate.
4:07 - Taxes for the MAINTENANCE of the property
---------------------------------------------------------------------------------
CONTACT US:
📞 + 34 965 020784
📧 sales@wtgspain.com
----------------------------------------------------------------------------------
WE ONLINE:
🔹 Our website: https://wtgspain.com/link/site
🔹 Facebook: https://www.facebook.com/spainwtg
🔹 Instagram: https://www.instagram.com/spainwtg
----------------------------------------------------------------------------------
SUBSCRIBE:
https://www.youtube.com/channel/UCnsIFfrEYMAt3da17kwyakQ?sub_confirmation=1
----------------------------------------------------------------------------------
★ NIE in Spain. How to get NIE number in Spain
https://wtgspain.com/video/get-nie-number-in-spain?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewNie
★ How to Make Money Renting property in Spain
https://wtgspain.com/video/earn-money-by-renting-property-in-spain?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewRenting
★ Taxes on buying property in Spain
https://wtgspain.com/video/taxes-on-buying-property-in-spain?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewTaxes
★ Why is it profitable to buy Property in Spain?
https://wtgspain.com/video/buying-property-in-spain-profitable?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewProfitable
★ How to get a mortgage in Spain
https://wtgspain.com/video/mortgage-for-spanish-property?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewMortgage
★ How to open a bank account in Spain | WTG Spain
https://wtgspain.com/video/how-to-open-a-bank-account-in-spain?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewBaccaunt
★ How to buy property in Spain
https://wtgspain.com/video/property-in-spain-how-to-buy?utm_source=youtube&utm_medium=youtubeEN&utm_campaign=videoReviewhtobuy
#spanishrealestate #costablancaproperty #spanishproperty
Видео Taxes on buying and maintenance of a property in Spain [2021] канала Property in Spain. WTG Spain
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