Purchasing a property in Andalusia, particularly in the luxurious areas of Benahavís, Marbella, and Estepona, is a dream for many. However, understanding the associated costs and taxes is crucial for a seamless buying experience. At Benahavis Homes, we pride ourselves on providing comprehensive guidance to ensure our clients are well-informed every step of the way.
Key Taxes Associated with Property Purchase
When buying a property in Andalusia, several taxes need to be considered:
- Transfer Tax (ITP): For resale properties, this tax varies between 8% to 10% based on the property’s value.
- VAT and Stamp Duty: For new properties, buyers will incur a 10% VAT and an additional 1.5% Stamp Duty.
- Notary and Registry Fees: These typically amount to 1% to 2% of the purchase price.
Additional Costs to Consider
Beyond taxes, there are additional costs associated with buying a property in areas like La Nueva Milla de Oro and Los Arqueros:
- Legal Fees: Hiring a legal expert to oversee property purchase agreements is essential, typically costing around 1% of the property’s price.
- Surveyor’s Fees: It is advisable to conduct a thorough property survey, especially for luxury villas in Marbella, which can vary in cost.
- Mortgage Costs: If financing the purchase through a mortgage, buyers should budget for mortgage arrangement fees and valuation costs.
Why Choose Benahavis Homes?
At Benahavis Homes, our extensive local knowledge and expertise ensure you find your ideal property while fully understanding the financial commitments involved. Whether you’re looking to invest in properties in Benahavís or seeking a luxurious lifestyle on the Costa del Sol, our dedicated team is here to guide you through every aspect of the process.
Choosing the right property involves more than just finding your dream home. It requires expertise and a deep understanding of the local market dynamics. Let Benahavis Homes be your trusted partner in making informed decisions about your next property investment in Andalusia.
