Barcelona Tourist and Expat Guide – I'mMovingToBarcelona



Buying a flat in Barcelona – nice thought, isn’t it? Seems quite logical. Moved to Barcelona. Got a job here and thinking about staying here at least for a couple of years but still renting the flat.

In such case, it would be good to know how much money you need to have saved before considering a mortgage. After the infamous crisis of 2008, the banks require at least 20% of private financial participation. So forget about the low o zero down payment.

Below you will find the breakdown of all the taxes, commissions, percentages and fees you need for your participation before you go and ask for a mortgage.

Spendings around the buy-sell transaction

1.The taxes:

  • VAT –  in case of a new property – 10% of the purchase value.
    Tax – Impuesto de Transmisiones Patrimoniales – in case of second-hand property – between 5% and 10%  of the price, depending on the comunidad autónoma.
  • Tax – Impuesto Actos Jurídicos Documentados: depending on the comunidad autónoma between 0,1 % and 1%.

2. Spendings:

  • Notary: 0,1% – 0,5% of the mortgage
  • Registry: some 200 euros
  • Administration fee: 150 – 300 euros

Mortgage fees


  • Tax over Actos Jurídicos Documentados: 0,1% – 1% of mortgage depending on the comunidad + 0,5% for the mortgage responsibility. 

2. Fees

  • Validation: 300-500 euro
    The cost depends on a bank which will have a company validate the property, i.e. verify its market value. This way they will know how much money can be loaned to the client. This cost is per property, so if you come up with 3 flats to validate, you’ll need to triple the cost.
  • Notary: 500-1000 euros
    The percentage is regulated and it depends on the mortgage value.
  • Registry: 160 euros
    You need to add the mortgage to the registry of the real estate.
  • Administration fee: some 300 euros
    Have a professional to take care of paying the taxes, etc.
  • Bank commissions: between 0,25% and 1% of the mortgage – applies only if the bank has a commission for opening the mortgage. Many banks have dropped it by now but you never know. 
  • Insurance: some 200 euro for the home insurance.

All the above, the taxes and fees account for about 14% of the purchase, 80% of which are taxes.

Down payment mortgage era

To the spendings, you need to add 20% of the purchase as a down payment, because the bank can lend you only 80% of the valuation of your home, not more than a 100% of its purchase value. If the valuation equals purchase value, then you need to have 20% ready on your bank account to pay yourself.

This means that you need to have saved around 34% of the purchase value of the property on you before you even ask for a mortgage.

Say we want a 3-bedroom flat in Barcelona Eixample. Say it costs around 260k euros. Here are the numbers:

Flat for 264.000 euros
Mortgage – 210 000 (80%)
Taxes and other spendings – 36.000 euros (14%)
Money down – 54.000 euros (20%)
Altogether, you need to have on you – 90k euros for the down payment.

I guess this explains why after the crisis more and more Spaniards are renting instead of buying. According to Fotocasa Blog in 2015 practically 25 % of the Spaniards were renting their flat, while 5 years before the tenants among the Spaniards didn’t account for even 15 %.

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