Costs of Buying Property in Javea

If you buy property in Javea, you need to know about buying costs. Read on to find out about stamp duty, notary and registry fees and most importantly about changes in Javea law regarding the costs for buying property in Javea.

As a general rule of thumb, we recommend that all buyers add another 11-12% on top of the purchase price.  This way, all expenses are covered.

Javea Buying costs check list:

• Transmission taxes: 10% of the deed price or 10% of the assessed value multiplied by 3.7 - whatever the higher value is.
  Notary fees
  Property Registration Fee
  General administration of the new deed

  When buying land or a garage directly from a developer or builder, then the purchase may be subject to VAT instead of stamp duty. VAT is normally charged at 21%, however.

  Buying with a mortgage, you will have the following additional costs:

  Transmission taxes are 10% of the price in writing or 10% of the assessed value multiplied by 3.7 - whatever the higher value is.
  Notary fees
  Property registration fee
  Admininstration of the new mortgage deed
  Bank valuation
  Mortgage settlement charge

  Other things to keep in mind, which will also incur costs are the following:

  Private valuation
  Attorney's fees
  Life insurance
  House insurance
  Bank commissions
  New contracts with public service companies (if applicable)