A. The simple answer is TAX. As is common in other mainland European countries there is far more tax payable when purchasing than you would pay in the UK. As a guide: in Alicante the transfer tax is now 8%, in Murcia it is 7%, then you pay stamp duty of 1%, your Notary and Land Regisrty fees will be another 1000 euros and expect your solicito...r's costs to be 2000-2500 euros. It is NOT a straight 10% as the media have often stated. On new properties there is no transfer tax but you pay IVA (Spanish VAT) at 10%. The payments are callculated on the property value which is not always the same as the actual amount paid for the property.
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