There are several costs to keep in mind when selling a property in Catalonia:
- Energy Performance Certificate: This certificate assesses the energy efficiency of the property and is required for selling. Costs can vary but typically range from €100 to €300. Its price depends on the size of the property, the bigger the surface area, the higher the cost.
- Habitability Certificate: Certifies the property’s compliance with habitability standards. Costs vary depending on location and can range from €100 to €500. As in the certificate above the larger is the size of the property, the higher the cost.
Numerous architects offer package deals for handling both certificates. Additionally, I can assist you in locating the ideal service provider.
- Nota Simple: A document from the land registry confirming the property’s ownership status and any existing charges or encumbrances. Your realtor will supply it to you at no charge
- Mortgage Cancellation cost: If there is an existing mortgage on the property you’re selling, you may need to cover certain expenses related to its cancellation. These expenses generally include administrative fees charged by the lending institution and potential early repayment penalties. It’s a good idea to speak with a representative from your bank to determine the specific costs involved.
In addition, canceling a mortgage requires formalization through a notarial deed and registration, both of which come with additional costs. While these costs can vary based on the property’s value and the specific services required, it’s reasonable to budget around €1,000 for these procedures. However, it’s essential to obtain accurate estimates from the relevant professionals involved in the process.
- Real Estate Commission: If you’ve hired a real estate agent to sell your property, their commission typically ranges from 3% to 5%, plus taxes, of the sale price.
Taxes:
- IRPF Income Tax: For residents, capital gains from the sale of property are subject to income tax (IRPF), only capital gains tax needs to be paid if the selling price exceeds the initial purchase price. These earnings are declared in the tax return of the following year after the property sale.
- Municipal Capital Gains Tax (Plusvàlua Municipal): A tax levied by the municipality on the increase in the value of the land since the property was acquired. Rates vary depending on location, property value, and holding period.
- Property Taxes (IBI): It is a yearly tax paid by property owners based on the property’s value.
Taxes for Non-Residents:
- the Spanish Treasury requires the purchaser to retain 3% of the purchase price when the public deed is signed. This amount must then be paid on the seller’s behalf to the Public Treasury as non-resident income tax.
It’s essential to consult with a tax advisor or legal expert to understand your specific obligations and potential exemptions based on your residency status and individual circumstances.
