Taxes use each region's general 2026 rates. Reduced rates for young buyers, large families or first homes are not included.
Buying costs by region (2026)
Total taxes and fees, without lawyer, for a typical home in each region.
| Region | ITP on €300k | Total €300k resale | Total €600k resale | Total €300k new build |
|---|---|---|---|---|
| Balearic Islands | €24,000 | €25,590 | €52,130 | €36,090 |
| Catalonia | €30,000 | €31,590 | €62,130 | €36,090 |
| Valencian Community | €27,000 | €28,590 | €56,130 | €35,790 |
| Andalusia | €21,000 | €22,590 | €44,130 | €35,190 |
| Madrid | €18,000 | €19,590 | €38,130 | €33,840 |
| Canary Islands | €19,500 | €21,090 | €41,130 | €25,590 |
| Murcia | €23,250 | €24,840 | €48,630 | €36,090 |
Worked example: a home in Mallorca
Sophie and Tom buy a €450,000 resale apartment in Palma. The Balearic ITP is progressive: 8% on the first €400,000 and 9% on the next €50,000, so €36,500. Notary, land registry and admin add about €1,860. In total they need €488,360, or €38,360 on top of the price, before any lawyer.
Balearic Islands transfer tax brackets (2026)
| Part of the price | Rate |
|---|---|
| Up to €400,000 | 8% |
| €400,000 – €600,000 | 9% |
| €600,000 – €1,000,000 | 10% |
| €1,000,000 – €2,000,000 | 12% |
| Over €2,000,000 | 13% |
Each rate applies only to the part of the price inside its bracket. New builds in the Balearics pay 10% VAT plus 1.5% stamp duty (2% from €1,000,000).
Resale vs new build
- Resale: you pay the regional transfer tax (ITP) on the price or on the official reference value (valor de referencia), whichever is higher.
- New build from a developer: 10% VAT (7% IGIC in the Canary Islands) plus the regional stamp duty (AJD), between 0.75% and 2%.
- Fees are similar for both: notary (€600–€2,500), land registry (€400–€1,500) and a gestoría to file the taxes (about €400).
Sources: ATIB — Balearic transfer tax · Agencia Tributaria — ITP and AJD · regional tax laws for 2026 of Catalonia, Valencia, Andalusia, Madrid, Canary Islands and Murcia. Fees are estimates from the official notary and registry tariffs.
Frequently asked questions
How much are buying costs in Spain?
Usually between 8% and 14% of the price on a resale home, depending on the region: mostly transfer tax (ITP, 6%–13%), plus notary, land registry and admin fees. On a new build you pay 10% VAT plus stamp duty (AJD) instead of ITP.
What is ITP in Spain?
Impuesto de Transmisiones Patrimoniales, the transfer tax on second-hand property. Each region sets its own rate: 6% in Madrid, 7% in Andalusia, 9% in Valencia, 8%–13% in the Balearic Islands and 10%–13% in Catalonia (2026).
Do foreigners pay more tax when buying property in Spain?
No. EU and non-EU buyers pay the same taxes as Spaniards. Non-residents usually cannot use the reduced rates for young buyers or first homes, and many hire a lawyer (around 1% plus VAT).
How much does it cost to buy a house in Mallorca?
With the 2026 Balearic rates, a €450,000 resale home costs about €38,360 in taxes and fees (8.5%): €36,500 of ITP plus notary, registry and admin.
Who pays the mortgage tax?
Since November 2018 the bank pays the stamp duty on the mortgage deed. As a buyer you only pay the valuation (about €300–€600) and, if you choose, a mortgage broker.