When buying a second hand residential property on the Costa del Sol you will need to consider the following buying costs (at time of print 2016):

Purchase Tax (ITP)           8%  below 400.000€.

                                           9% between 400.000€ to 700.000€.

                                           10% above 700.000€

Lawyers fees                     Normally 1% of Purchase Price plus VAT (IVA)

Notary Fees                       Best to assume 1% of Purchase Price although

                                                            it may be less

Land Registry Fees            Again best to assume 1% of Purchase Price,                                              although may be less

Total Costs                          11% to 13% of Purchase Price

 Mortgage

Please bear in mind, if you are to take a mortgage in Spain, banks may lend 60% of the purchase price or valuation (whichever is lower) i.e you will need 40% in liquidity.  With a mortgage you will also be expected to pay for the mortgage deed at notary and land registry.  The bank valuation will also cost you in the region of 0.01% of valuation with minimum applicable rates

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