To be safe allow for 10-12% on top of the purchase price for the total cost of the following fees and taxes:
On new residential buildings, direct from the developer VAT (IVA) is charged at 10% of the value of the property, plus 1.5 % stamp duty, and these are paid by the purchaser. On re-sale properties there is a property transfer tax set at 8% for the first 400,000 Euros and 9% on the amount between 400,000 and 700,000 Euros and 10% in excess of 700,000 Euros.
'Plusvalia' is an 'added value' tax based upon the increase of the Town Hall index value of the land only, from the prior (vendor's) purchase to the present sale. Although essentially a sales tax, it is in common practice often paid by the purchaser. As there are several variable factors used in calculating this tax (area of land, location, building volume permitted, period of ownership of the vendor), the amount payable can vary substantially and should be verified before proceeding with the purchase. It will vary between 300 and 1800 Euros.
Notary, registration and lawyers fees
Most lawyers charge around 1%. Notary fees vary between 300 and 840 Euros depending on the type of property. Registration of your property, costs approximately 60% of the notary fees.
When purchasing with a mortgage, you should take into account bank charges. Most banks will charge a 1% mortgage fee for their services.