When embarking on the journey of buying, selling or renting property in picturesque Marbella, it is crucial to have a clear understanding of the property taxes and fees involved. These financial obligations are not mere formalities; they are essential components that affect the overall transaction and ownership experience on Spain's sunny Costa del Sol.
In Marbella, where the property market thrives with luxury villas, charming flats and stunning beachfront properties, being well-informed about these costs can significantly influence your investment decisions and financial planning.
In this guide, we’ll delve into the nuances of property taxes and fees in Marbella, shedding light on what buyers, sellers, and renters can expect. Whether you’re captivated by the allure of a Mediterranean lifestyle or investing in a holiday home, understanding these financial aspects will ensure a smoother, more predictable real estate journey. From local taxes to notary fees, and everything in between, we’ll equip you with the knowledge you need to navigate the Marbella real estate market with confidence.
Lawyer’s fees
Lawyers’ fees: The fees charged by a lawyer in the process of selling a property usually amount to around 1% of the property’s selling price. However, this percentage can vary depending on both the price of the property and the chosen lawyer.
1% + VAT
Property notary registry fees
When buying a property, notary fees are charged to ensure that the transaction is safe and legitimate.
+/- € 3,000
Wealth Tax
Individuals who reside in Spain for tax purposes and hold assets worldwide as well as non-residents who have holdings in Spain or the potential to exercise such holdings are subject to this tax.
The tax amount is determined based on the assets held by the taxpayer as of the end of the year, specifically on 31 December.
VAT (IVA) and STAMP DUTY (AJD)
- For new developments: 10 % + 1.2%.
- For re-sales: 7%+ 1.2%.
- Plots: 21% + 1.2%.
IBI Tax for ongoing maintenance fees and community charges
This is the value given to each property by local tax authorities and can be found on your IBI tax documents. This value is generally lower than the actual market value of the property.
The IBI tax is typically calculated as a percentage ranging from 0.4% to 1.1% of the cadastral value
Municipal taxes – rubbish removal
The amount due varies from one town to another and is normally paid during the months of April/May every year.