Taxes and Expenses When Buying Property in Murcia

Buying a property in Murcia is an exciting decision that brings you closer to the sun and a peaceful lifestyle. However, to ensure your purchase is secure and without surprises, it is essential to understand the taxes and expenses you will need to pay during the buying process. Here is a clear, straightforward guide to help you plan your budget correctly:

1. Property Transfer Tax (ITP)

If you purchase a second-hand property, you will need to pay the ITP, which in Murcia ranges from 8% to 10% of the property’s value, depending on the purchase price. This is one of the most significant costs to consider.

2. VAT on new-build properties

If you buy a new-build property, instead of ITP, you will pay VAT (10% of the purchase price), plus 1.5% for Stamp Duty (AJD).

3. Notary fees

Notary fees typically range from 0.5% to 1% of the property’s value, depending on the price and the complexity of the deed.

4. Land registry fees

Registering your property at the Land Registry is mandatory and costs approximately between €300 and €800, depending on the property’s value.

5. Administration fees (optional)

If you wish to have an administrator handle all the paperwork, the cost is around €300 - €500, ensuring that all payments and registrations are handled correctly.

6. Property valuation (if buying with a mortgage)

If you require a mortgage, the bank will request a property valuation, costing between €300 and €600, depending on the size and location of the property.

7. Other expenses to consider

Estate agency fees: Generally around 3% of the property’s value for each party, although this may vary depending on the property’s value.
Local taxes (IBI): Annually, the property tax varies depending on the municipality and the cadastral value.

Practical example:

If you purchase a second-hand property for €150,000 in Murcia, the approximate expenses would be:

ITP (8%): €12,000
Notary and registry fees: €1,200 - €1,500
Administration fees: €400 (optional)
Estate agency fee: €5,445

Total approximate additional expenses: €19,345 on top of the purchase price.

Plan your purchase without surprises

Knowing these expenses and taxes will help you avoid unexpected costs and allow you to plan your purchase with confidence, enjoying the process of acquiring your home under the Murcia sun.

👉 Do you need guidance to buy in Murcia without stress? 👈

At [Your real estate agency], we help you in your language, guide you through every step, and clearly explain each expense and tax so that your purchase is safe and straightforward.

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