Selling a home in Spain
-
I am curious what would be the additional cost to sell a home in Spain. IE, real estate commissions, taxes, etc.
Thank so much,
Don -
Hi Don, Thanks for your question!
We've checked in with Margaret Summerfield, Real Estate Trend Alert, to get an answer to your question. Here is her response,
The cost would depend on a number of factors – where the property is located, if the seller is tax resident in Spain, etc. The typical costs are:
1, real estate agent fees (vary from 3% to 10%)
2, capital gains tax – which can be up to 24% of the gain for a non-resident, non EU/EEA seller. Deductions are allowed, and the tax can be lower if the seller is tax resident/selling a primary residence/using the proceeds to buy a primary residence
3, plusvalia (like a municipal land tax) – this is based on the rise in value of the land the property sits on from the time of purchase to the time of sale - and is on a sliding scale based on how long the seller has owned the property. If say you have held it for up to 5 years, it’s around 3.7%
4, legal costs (around 1%)
5, You also need to pay for certificates (including an energy performance certificate), cancelling a mortgage if there is one, etc.
1/2