Buying Process

Stamp duty can vary slightly depending upon the region – and, when you find a property that you like, it’s worth doing a little research and finding out the specific rates for that location. Here in Andalusia, if you wish to buy a new build property, stamp duty is currently set at 1.5% of the purchase price. For re-sale properties, you won’t be expected to pay any stamp duty – but you will need to pay transfer tax (i.e. Impuesto Sobre Transmisiones Patrimoniales) instead. This is typically 7% of the purchase price. However, it can vary, with some regions applying rates as high as 11%.

This is one of the first things that people want to know when buying a property in Spain. How long will it take to become the owner? But the answer isn’t as straightforward as you might think. It depends on the complexity of the purchase. If all paperwork is in order and finances are in place, the buying process can take as little as 3-4 weeks. If a mortgage is required, it can take around 4-8 weeks. When problems arise and various bureaucratic processes are necessary (e.g. registering the property), it can become a very time-consuming process that lasts for 8 weeks or more. It’s often impossible to predict a specific timeframe for your purchase. But in our experience, once the private contract has been signed, completion is likely to occur within 4-6 weeks – and, here at Bromley Estates, we always strive to make the buying process as quick and efficient as possible.

pay it via credit card or bank transfer and it can be held either in the Bromley Estates company client account or with a lawyer of your choice, until due diligence has been completed. If your lawyer finds any legal impediments pertaining to the said property, the deposit is fully refundable. If you decide to continue with the purchase, it will be put towards the purchase price.

As a non-resident, there are several taxes you will need to pay to sell a property in Spain: Plusvalía – this a municipal tax payable to the local council. The amount you’re expected to pay will depend on the cadastral value of the land and the number of years since you bought it. Capital Gains Tax (CGT) – this is approximately 19% of the profit made from your sale. Certain exemptions apply. For example, you won’t be expected to pay CGT if you’re over 65 or have lived in the property for at least 3 years. But, in most cases, the Spanish Tax Authority will withhold 3% from the sale (taken directly from the purchaser) and you will then need to pay the rest.