Stamp Duty on La Palma is set at around 10% of the agreed selling price. For example: if a is house purchased at €200,000, this means:
|Purchase price||once only||€ 200,000|
|Estate agent’s fees||3% (min. 1800 Euro)||€ 6,000|
|Transfer tax||6.5 %||€ 13,000|
|Registration at “Registro de Propiedades” (Property Register)||once only||€ 300|
|Cadastral registration||once only||€ free: service|
|IGIC (tax) for Estate Agent’s fees||7%||€ 420|
|In total||€ 220,520.00|
This is a general example; prices may vary
Please contact us for a detailed estimate based on your specific situation.
It is very common in Spain to hire a lawyer for the purchase of a property.