Costs of buying a home in Madrid and Andalusia: what you pay on top of the price
ITP, VAT, stamp duty, notary and land registry: the taxes and costs of buying a home in Madrid and Andalusia, with a €300,000 example.
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The listing price is not all you will pay. Before signing, set money aside for taxes and costs, which usually cannot be fully financed.
Second-hand homes
You pay transfer tax (ITP), set by each region. The general rate is 6% in Madrid and 7% in Andalusia. On a €300,000 home that is €18,000 and €21,000 respectively. Some buyers qualify for reduced rates if they meet certain conditions.
New homes
You pay 10% VAT plus stamp duty (AJD) on the purchase deed: general rates of 0.75% in Madrid and 1.2% in Andalusia.
Notary, registry and administration
Notary and land registry fees follow official scales. The amount depends mainly on the price and the length of the deed. Ask for a quote before signing.
If you take a mortgage
Since Law 5/2019, the bank pays the notary, registry and administration costs of the mortgage, as well as the stamp duty on the loan. You pay for the valuation.
Rates can change. Check the current ones on your regional government's website on the day you buy.
