Madrid Property Closing Cost Calculator
Calculating closing costs is a critical step in your Madrid property search. Taxes and administrative fees generally add between 8% and 12% to your total investment. See exactly how much liquid cash you need to secure your home.
1. Property & Acquisition
2. Financing Needs
Cash Required
€131,944
Total Sunk Costs
€41,944
Purchase Financial Breakdown
1. Capital Allocation
- Downpayment
- €80,000
- Refurbishment Budget
- €10,000
- Taxes & Fees (Sunk Costs)
- €41,944
- Total Liquid Cash Needed
- €131,944
2. Sunk Costs Details
- ITP Tax (6% Madrid)
- €24,000
- Notary & Registry Fees
- €1,374
- Legal Due Diligence
- €1,200
- Gestoría & Admin
- €450
- Bank Valuation (Tasación)
- €400
- Buyer's Agent Fee (3%) + VAT
- €14,520
- Total Taxes & Fees
- €41,944
3. Financing Overview
- Bank Mortgage (80% LTV)
- €320,000
Ready to secure your home?
Knowing the numbers is just the start. Let’s establish a clear plan to navigate the market, optimize your financing, and secure the best possible deal.
Book a Strategy CallFor more details:
Read our in-depth guide on Decoding the Cost of Buying a Property in Madrid
Expat Financial Tip
We strongly recommend opening a Spanish bank account with at least 10% of the expected purchase pricebefore you start making offers. This "Arras" deposit is required to take a property off the market and prove to the seller that you are a serious buyer.
How to Calculate Your Madrid Property Buying Costs
Buying a home in Madrid requires paying roughly 10% on top of the asking price in sunk costs. Use this calculator to avoid surprises:
- Enter the asking price: Input the price of the property and whether it is a new build or a resale (second-hand) home.
- Select your residency status: Spanish residents generally need a 20% down payment, while non-EU expats and international buyers may need 30% to 40% down.
- Review your total capital required: The tool will instantly break down the mandatory ITP or VAT taxes, notary fees, registry fees, and agency commissions required to close the deal.
Glossary of Spanish Closing Costs
- ITP (Impuesto sobre Transmisiones Patrimoniales): The property transfer tax for second-hand properties. In Madrid, this is 6% of the purchase price or reference value, making it one of the most competitive regions in Spain.
- VAT (IVA) & AJD: If you buy a brand-new property directly from a developer, you pay 10% VAT instead of ITP, plus an additional stamp duty called AJD (Impuesto de Actos Jurídicos Documentados), which is 0.75% in Madrid.
- Notary & Registry Fees: Mandatory administrative costs to legally register the change of ownership. These are scaled based on the property price but usually amount to roughly 0.5% - 1% of the property value.
Frequently asked questions