Total Buying Costs
The cost of buying La Zagaleta property is the same as you would expect to pay for any apartment or villa within Spain. Total buying costs tend to be around 11% if you are buying without bank finance and approximately 13% if you are buying with a mortgage. The fees generally stack up like this - 7% IVA if its a brand new house or 7% transfer tax if its a resale. This is unavoidable and is the single most expensive cost when purchasing your property. Be aware that if you are buying land, if it isn´t owned in an offshore structure, you will pay 16% IVA.The other fees are attributed to lawyers, 1-1.5%, notary fees, land registery and mortgage set up costs.
Yearly Ongoing Costs
Your ongoing yearly fees for ownership in La Zagaleta will be for the security and maintainence of roads etc. Should you wish to use the Golf and Country Club membership, there are the associated La Zagaleta Country Club membership fees. For your legal fees it may well be worth negotiating hard for a fixed fee with your chosen lawyer given that property prices start at €3,200,000 in the estate. That would be quite a substantial legal cost should you be paying 1.5%!
