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 depends on the region, price band and buyer circumstances.
- New builds pay 10% IVA plus AJD stamp duty instead of ITP.
- Monthly cost includes IBI, community fees and insurance, not just the mortgage.
At a glance
Key figures this month
Figures reviewed:
- 12-month Euribor (September 2026)
- 3.247%Official monthly average.
- Non-resident variable margin
- 0.90% – 1.75%Added to 12-month Euribor.
- Indicative variable rate
- 4.15% – 5.00%Current Euribor plus the approved panel margin band.
- Non-resident fixed-rate band
- 2.80% – 3.90%Indicative 10–25 year products.
Indicative figures for guidance only, correct as at October 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
- Euribor is the official September 2026 12-month monthly average published by Banco de España in the BOE.
- Fixed-rate and margin bands are from Clifton International's Spanish lender panel, reviewed 2 November 2026.
- The worked example and this box read the same approved monthly snapshot; neither date moves until new figures are published.
Last reviewed . Read the full Key facts methodology, or speak to our team for a quote based on your circumstances.
Source and period: Banco de España / BOE, September 2026 monthly average, published 2 October 2026 (official data); view the official source. Spanish fixed rates and margins: Clifton International lender panel, reviewed 2 November 2026. Indicative only.
Regional cost calculator
Estimate tax and buying costs by region
Choose a region, property type and price. The tax uses the region's published headline rate; other costs are stated assumptions.
Illustration limited to €50,000–€20m.
- Official headline ITP
- €35,000
- Legal fee assumption
- €6,050
- Notary and registry assumption
- €5,000
- Illustrative total buying costs
- €46,650
7% flat
1% + 21% IVA
1% combined
9.3% of price, incl. €600 admin
Andalucía replaced its old 8%–10% sliding scale with a single 7% rate in 2021 and has kept it since — a saving of roughly €30,000 on a €1m resale versus the previous top band.
Tax source: regional headline scale published by Junta de Andalucía. Checked 1 October 2026. Basque figures illustrate Gipuzkoa because each foral territory sets its own rules. Tax can be based on the higher of price or official reference value; reductions and individual circumstances are excluded. Confirm the amount with your Spanish lawyer before exchange.
Disclaimer
This calculator is an illustrative estimate only. It is not a quote, valuation, tax opinion or financial, tax or legal advice, and it must not be relied on to decide a purchase. Official rates change and may apply differently to your circumstances — exemptions, reductions, reference values, property type and residency can all alter the amount payable. Clifton International is not a tax adviser or law firm. See our full data and estimates disclaimer, and confirm all figures with your own Spanish lawyer or asesor fiscal before acting.
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 materially by region and price band.
- 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.
Monthly mortgage cost at this month's rates
Recalculated with rates published
The same three budgets, with the monthly mortgage payment worked out at this month's rates over 25 years. On the €500,000 purchase, a mid-band fixed rate of 3.35% works out at about €1,601 a month.
| Purchase price | €500,000 | €1,000,000 | €3,000,000 |
|---|---|---|---|
| Mortgage at 65% LTV | €325,000 | €650,000 | €1,950,000 |
| Fixed, mid-band (3.35%) | €1,601 | €3,202 | €9,606 |
| Mixta, initial period (2.95%) | €1,533 | €3,065 | €9,196 |
| Variable, lowest margin (4.15%) | €1,742 | €3,484 | €10,452 |
| Variable, highest margin (5.00%) | €1,899 | €3,799 | €11,396 |
Euribor: official September 2026 12-month average (3.247%) from the Banco de España / BOE. Fixed, mixta and margin bands: Clifton International lender panel, reviewed 2 November 2026; mid-points used. Indicative only — not a quote, offer or recommendation.
Where the numbers move most
Region. Transfer tax on resale property is set regionally: Madrid is 6%, Andalucía 7%, while Valencia, Catalonia 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. Madrid charges 6%, Valencia generally 9% with 11% above €1m, while Catalonia and the Balearics use price bands that reach 13%.
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.