The listing shows a price — say, €250,000. That’s your starting point, not the final number. On top of it come a handful of purchase costs, and afterwards, ongoing annual expenses. None of this is complicated once you know what to expect, so here’s the full picture.
One-off purchase costs
Buying a resale property, expect to add 10–13% on top of the price:
- Property Transfer Tax (ITP) — the largest share, and it varies by region. In Andalusia, home to the Costa del Sol, it’s currently a flat 7%.
- Notary and land registry fees — around 1–1.5%.
- Legal fees — around 1–2%. At Olivo Estates, this part is handled by trusted local lawyers we work with regularly.
- Property valuation — if you’re taking out a mortgage, the bank will require an independent valuation, typically a few hundred euros.
Buying new-build property directly from a developer, ITP is replaced by 10% VAT (IVA) plus roughly 1.2% stamp duty — the total ends up in a similar range.
For example: on a €250,000 resale property, additional costs come to roughly €25,000–32,500, bringing your real budget to around €275,000–282,500. We always work out the exact figure for your specific property before you decide, so you’re planning around a real number, not an estimate.
Annual running costs
- IBI (property tax) — an annual municipal tax based on the property’s cadastral value. For a typical apartment, usually €200–600 a year.
- Waste collection tax — separate from IBI, ranging from around €20 to €150 a year depending on the municipality.
- Community fees — €60–250 a month, depending on the development. In return, you get a well-maintained pool, a tidy garden, regularly trimmed hedges, and shared spaces that are someone else’s responsibility, not yours.
- Insurance — mandatory if the property is mortgaged.
- Utilities (electricity, water) — in line with typical Western European prices, and summer electricity can sometimes come in cheaper thanks to how widely solar power is used in the region.
What we take care of for you
Buying through Olivo Estates, several of these questions are simply off your plate:
- Outstanding community debts on the property? Before you commit, our partner lawyers carry out a thorough check — reviewing the paperwork, flagging any risks, and making sure everything’s in order before you sign anything.
- Is furniture included in the price? We verify exactly what’s included, so you’re not left guessing based on the listing description.
- What does the energy certificate actually mean? We walk you through what it means for your future heating and cooling costs.
It’s all part of the process we go through with you, step by step.
The numbers, in short
Budget roughly 10–13% on top of the asking price for one-off costs, and anywhere from a few hundred to a couple of thousand euros a year for upkeep, depending on the property and its community. The exact figure always depends on the specific property and region — the best next step is asking for a precise estimate on the one you’re considering.
This article is general information, not legal or tax advice. Tax rates can change, so we always recommend confirming current figures with a lawyer or accountant before purchasing.
Get in touch with Olivo Estates — we’ll put together an accurate cost estimate for the Costa del Sol property you have your eye on.
