At a glance
Key facts
Figures reviewed:
- Typical non-resident LTV
- 60 – 70%
- Cash needed — €500k purchase
- c.€236,000
- Cash needed — €1m purchase
- c.€470,000
- Cash needed — €3m purchase
- c.€1,402,000
- Purchase costs
- 10 – 12% of price
- Rate assumption
- 3.5% fixed, 25 years
Indicative figures for guidance only, correct as at August 2026. Rates, costs and timelines vary by lender, borrower profile, asset and jurisdiction, and are not an offer of finance. How we derive these figures.
Methodology and assumptions
- Figures are compiled by Clifton International specialists from live lender term sheets, indicative quotes and completed transactions arranged over the preceding 12 months.
- Rates and costs are stated as ranges rather than a single number because pricing is set case-by-case on borrower profile, residency, asset type, location and loan-to-value.
- Timelines assume a complete document file from the outset; valuation, legal capacity and (in Spain) NIE and notary availability drive the critical path.
- Costs exclude any lender, broker or third-party fees not stated on the page, and exclude currency movement between agreement and drawdown.
- Figures are reviewed at least quarterly and re-checked against lender pricing whenever a material market change occurs.
Last reviewed . Read the full Key facts methodology, or speak to our team for a quote based on your circumstances.
How much cash do you need to complete a Spanish property purchase?
Plan on 45–50% of the purchase price in cash as a non-resident buyer with a 65% mortgage. On a €500,000 property that is about €236,000, on €1,000,000 about €470,000 and on €3,000,000 about €1.4 million — deposit plus transfer tax, notary, registry, legal and lender fees.
- Deposit at 65% LTV is 35% of price; costs add a further 10–12%.
- Transfer tax (ITP) on resale runs 6–10% depending on the region.
- New builds pay 10% IVA plus AJD stamp duty instead of ITP.
- Monthly cost includes IBI, community fees and insurance, not just the mortgage.
Key takeaways
- Budget roughly 45–50% of the purchase price in cash: 35% deposit plus 10–12% of costs.
- A €500,000 purchase needs about €236,000 at completion; €1m needs about €470,000; €3m about €1.4m.
- Transfer tax is the largest single cost after the deposit and varies by region — 6% to 10%.
- New-build purchases swap ITP for 10% IVA plus 1.2–1.5% AJD stamp duty, which raises the cash figure.
- Ongoing monthly cost is more than the mortgage: IBI, community fees, insurance and utilities add 15–20%.
Cost to completion at a glance
The headline numbers at each budget, before the line-by-line breakdown below.
| Budget | Deposit (35%) | Taxes & fees | Cash at completion | Monthly cost |
|---|---|---|---|---|
| €500,000 | €175,000 | €60,950 | €235,950 | €1,977 |
| €1,000,000 | €350,000 | €120,400 | €470,400 | €3,954 |
| €3,000,000 | €1,050,000 | €352,300 | €1,402,300 | €11,562 |
Swipe the table sideways to see all columns.
Indicative only. Assumes resale purchase in a 10% ITP region, 65% LTV at 3.5% over 25 years. Actual costs vary by region, lender and property type.
Full cost breakdown at each budget
Every line below is paid in cash at or before the notary. The deposit and taxes dominate, but legal and lender fees still add several thousand euros that buyers routinely leave out of the plan.
| Line item | €500,000 | €1,000,000 | €3,000,000 |
|---|---|---|---|
| Purchase price | €500,000 | €1,000,000 | €3,000,000 |
| Mortgage at 65% LTV | €325,000 | €650,000 | €1,950,000 |
| Deposit (35%) | €175,000 | €350,000 | €1,050,000 |
| Transfer tax / ITP at 10% | €50,000 | €100,000 | €300,000 |
| Notary & land registry | €2,000 | €3,000 | €6,000 |
| Independent legal fees | €5,000 | €10,000 | €25,000 |
| Valuation (tasación) | €700 | €900 | €1,800 |
| Lender arrangement fee (c.1%) | €3,250 | €6,500 | €19,500 |
| Total costs on top of price | €60,950 | €120,400 | €352,300 |
| Total cash needed at completion | €235,950 | €470,400 | €1,402,300 |
Assumes a resale purchase in a 10% ITP region, a 65% LTV mortgage and independent legal representation. Gestoría and bank administration charges are included within notary and registry.
What it costs each month once you own it
The mortgage is roughly 80–85% of the monthly running cost. IBI, community fees, insurance and standing charges make up the rest, and community fees on coastal or resort developments with pools, gardens and security can be materially higher than the figures shown.
| Line item | €500,000 | €1,000,000 | €3,000,000 |
|---|---|---|---|
| Mortgage payment (3.5%, 25 yrs) | €1,627 | €3,254 | €9,762 |
| IBI (council tax), monthly equivalent | €60 | €125 | €400 |
| Community fees | €150 | €300 | €900 |
| Buildings & contents insurance | €60 | €110 | €300 |
| Utilities & standing charges | €80 | €165 | €200 |
| Total indicative monthly cost | €1,977 | €3,954 | €11,562 |
Mortgage payments assume 3.5% fixed over 25 years on a 65% LTV facility. Non-resident income tax (IRNR) and, above the regional threshold, wealth tax are annual liabilities not included here.
Where the numbers move most
Region. Transfer tax on resale property is set regionally: Madrid is 6%, Andalucía 7%, Valencia and the Balearics reach 10% and above on higher values. On a €3m purchase, that spread is worth more than €120,000 of cash.
New build versus resale. A new build pays 10% IVA plus AJD stamp duty of roughly 1.2–1.5%, so the cost stack is higher than the resale model used above.
Leverage. Dropping from 65% to 60% LTV adds 5% of the price to the cash requirement but usually widens the lender panel. See how much deposit you need and the full 10–12% cost rule.
Currency. If your cash is held in sterling or dollars, a 3% move between the arras and completion changes a €470,000 requirement by around €14,000. Our currency risk guide covers forward cover and staged transfers.
If the cash figure does not work
A shortfall is not automatically the end of the purchase. Raising capital against property you already own, adding a second asset as security, or bridging where liquidity is dated but not yet received are all routes lenders accept — the deposit shortfall guide works through each.
Where the gap is timing rather than affordability, short-term finance can complete inside an arras window that a Spanish bank cannot meet. Compare the cost in the Spanish bridging cost guide.
Frequently asked
Questions from readers
How much cash do I need to buy a €1m property in Spain?
About €470,000 as a non-resident with a 65% mortgage: €350,000 deposit plus roughly €120,000 of transfer tax, notary, registry, legal and lender fees. In a 6-7% ITP region the total falls to around €440,000.
Are these costs different for a new build?
Yes. New builds pay 10% IVA plus AJD stamp duty of around 1.2-1.5% instead of ITP, so budget 11-12% of the price in tax rather than the regional resale rate.
What monthly payment should I expect on a €3m Spanish purchase?
On a €1.95m mortgage at 3.5% over 25 years the payment is around €9,762 a month, with IBI, community fees, insurance and utilities taking the all-in figure to roughly €11,500.
Is the transfer tax the same across Spain?
No. Resale transfer tax is regional and ranges from about 6% in Madrid to 10% or more in Valencia and the Balearics, with sliding scales on higher values in some regions.
Do these figures include annual taxes?
No. Non-resident income tax (IRNR) is payable annually on imputed or actual rental income, and wealth tax may apply above regional thresholds. Both sit outside the monthly running costs shown.
Can I borrow the purchase costs as well as the price?
Not usually. Spanish lenders size against the lower of price and valuation, so taxes and fees are funded from your own cash or by raising capital against another asset.