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

Residency Status
Purpose of Purchase
80% Financing

Based on your answers, banks will typically lend you up to 80%. You can adjust this manually.

Cash Required

€131,944

Total Project Cost€451,944

Total Sunk Costs

€41,944

Amount lost to fees/taxes10.5%

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 Call

For 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:

  1. Enter the asking price: Input the price of the property and whether it is a new build or a resale (second-hand) home.
  2. 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.
  3. 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