One of the most common surprises for international buyers in Serrato is the total cost of purchasing a property in Spain. Beyond the agreed price, taxes and fees add approximately 10–12% on top. Knowing exactly what you will pay — and when — allows you to budget accurately and avoid last-minute shocks when buying in Serrato.
1. ITP — Property Transfer Tax (Resale Properties in Serrato)
The ITP is the main tax on resale property purchases in Serrato. It is paid by the buyer and calculated as a percentage of the purchase price (or the tax authority's minimum reference value if higher).
In Andalucía (malaga), including Serrato, the ITP rate is 7%. For a property purchased at €300,000 in Serrato, you would pay €21,000 in ITP.
The ITP must be filed and paid within 30 working days of completion at the notary. Late payment incurs surcharges and interest. We handle this filing as part of our service for Serrato buyers.
Want an exact tax calculation for a property in Serrato? Send us the details and we'll provide a full cost breakdown — free, with no obligation.
Get a Free Tax Calculation2. VAT + AJD — New Build Properties in Serrato
If you are buying a newly built property directly from a developer in Serrato, the ITP does not apply. Instead, you pay:
- VAT (IVA): 10% of the purchase price for residential properties
- Stamp Duty (AJD): 1.2% in Andalucía (malaga)
Total tax on a new build in Serrato is therefore approximately 11.2%.
3. Plusvalía Municipal
The Plusvalía is a local council tax on the increase in land value since the previous sale. In Serrato, this is traditionally paid by the seller, but the purchase contract may allocate it differently. We always review who bears this cost in every transaction in Serrato.
4. Notary and Land Registry Fees in Serrato
- Notary fees: €600–€1,500 depending on purchase price
- Land Registry fees: €400–€1,000
5. Ongoing Tax Obligations as a Non-Resident Owner in Serrato
Buying a property in Serrato creates annual tax obligations even if you do not live in Spain:
- IBI: Annual local council property tax — typically €300–€2,000+ in Serrato
- IRNR (Non-Resident Income Tax): Even if you don't rent, Spain imposes an imputed income tax on non-resident owners. Approximately 0.4%–0.8% of cadastral value annually.
- Rental income tax: If you rent the property in Serrato, income is taxable in Spain at 19% (EU residents) or 24% (non-EU)
- Wealth tax: Applies if net Spanish assets exceed €700,000
For these ongoing obligations, we work alongside our partners at International Tax Legal Spain, who specialise in non-resident tax compliance for property owners across malaga.
Summary: Total Purchase Costs for a €350,000 Property in Serrato
| ITP (7% — resale) | €24,500 |
| Notary fees | ≈ €1,100 |
| Land Registry fees | ≈ €700 |
| Legal fees (approx. 1%) | ≈ €3,500 |
| Estimated total purchase costs | ≈ €29,800 |
* Indicative figures for Serrato. Exact amounts depend on property, mortgage and circumstances. We provide a precise calculation for each client.
Buying in Serrato? We calculate your exact tax liability, file all declarations on time and connect you with specialist tax advisors for ongoing compliance.
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