Taxes and expenses

For the purchase of this property at a price of €1,850,000, the buyer must pay in Catalonia the Property Transfer Tax (ITP) according to the currently applicable progressive system.

This tax is calculated in brackets. On the first €600,000, a rate of 10% is applied, which amounts to €60,000. On the next tranche up to €900,000, that is €300,000, a rate of 11% is applied, which equals €33,000. On the next tranche up to €1,500,000, that is €600,000, a rate of 12% is applied, which equals €72,000. On the remaining amount, that is €350,000, a rate of 13% is applied, which equals €45,500.

Therefore, the total ITP payable would be €210,500.

To this tax must be added the usual costs of formalizing the purchase, such as notary, land registry and, where applicable, administrative fees, which usually range between €1,500 and €2,500 in total.

Consequently, the buyer should expect total costs of around €215,000, meaning that the total estimated outlay to acquire the property for €1,850,000 would be around €2,065,000 including taxes and expenses.