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Buyers at any price point · 7 min di lettura

The true cost of buying — taxes, fees, and the 10–15% rule

Your headline price is not your all-in cost. Between transfer tax, notary, registry, and legal fees, budget 10–15% on top. Here's the exact breakdown for 2026.

Fatti chiave
  • Resale properties: 8–13% ITP (transfer tax), progressive by price band
  • New build: 10% IVA (VAT) + 1.5–2% AJD (stamp duty)
  • Notary + registry + gestoría: €1,500–€4,000 combined
  • Lawyer fees: typically 1% of purchase price (higher for complex AFO cases)
  • Annual IBI: €320 (apartment) to €2,500+ (luxury villa)

Transfer tax — the biggest line item (resale)

Balearic ITP (Impuesto sobre Transmisiones Patrimoniales) is progressive, meaning you pay different rates on different slices of the price.

  • Up to €400,000 — 8%
  • €400,000 to €600,000 — 9% on the portion above €400K
  • €600,000 to €1,000,000 — 10% on the portion above €600K
  • €1,000,000 to €2,000,000 — 12% on the portion above €1M
  • Above €2,000,000 — 13% on the portion above €2M

Worked example — €950,000 resale

€400,000 × 8% = €32,000

€200,000 × 9% = €18,000

€350,000 × 10% = €35,000

Total ITP = €85,000 (about 8.9% effective)

New-build properties pay VAT instead

New builds from a developer pay 10% IVA (value-added tax) plus AJD (stamp duty). AJD is 1.5% up to €1M and 2% above. The combined burden is typically a bit lower than ITP at high price points — worth modelling both if you're choosing between a resale and a new-build in the same band.

Transaction costs that are easy to forget

Beyond the tax, budget for:

  • Notary — €600–€2,500 depending on complexity
  • Land registry — €400–€1,500
  • Gestoría (deals with paperwork) — €300–€1,000
  • Lawyer (your own) — ~1% of purchase price, with minimum ~€2,500
  • Survey / structural (optional but recommended) — €500–€1,500
  • Power of attorney (if buying remotely) — €200–€500

Annual ownership costs

Once you own, the recurring costs are:

  • IBI (property tax) — 0.4–1.1% of cadastral value per year. A €1M apartment in Palma might pay €600–€1,200.
  • Basura (waste collection) — €80–€250 per year
  • Community fees (apartments/townhouses) — €60–€400/month depending on amenities
  • Non-resident income tax — 24% on imputed rent (1.1% of cadastral value) if you don't rent the property out, or on actual rental income if you do
  • Home insurance — €300–€1,000 per year
  • Wealth tax (impuesto sobre el patrimonio) — kicks in above €700K of net Spanish assets; rates 0.28–3.45%

Optimising the tax bill

A few legal structures that mid-to-high-budget buyers regularly use:

  • Spanish SL (limited company) ownership — reduces wealth tax exposure but adds annual compliance (~€1,500/yr) and limits access to personal-use deductions
  • Double-taxation treaty planning — confirm with a cross-border tax adviser before closing, especially if you also own property in the US, UK, or Germany
  • Title in a family trust — rarely used in Spain, generally a net negative for Spanish tax purposes
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