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Become the expert!

Spanish real estate terms explained in plain English

 

Buying a property in Spain is easy. But remember, your first step will be to find a reliable independent lawyer who is specialized in Spanish land and property law. Unless you speak fluent Spanish, you should find a lawyer speaking your mother tongue in Spain.

More on that here: What is the legal due diligence for your Spanish property?

Looking for a property lawyer in Spain? Check all our partners here!

Disclaimer: This glossary’s goal is to explain the meanings of words and it is not to give advice. Any issue should be reviewed by a tax or legal adviser.

 

Cedula de Habitabilidad

 

The Cedula de Habitabilidad or Licencia de ocupación is an administrative document that certifies that a dwelling complies with the minimum conditions of habitability provided for in current regulations and is suitable for use as a residence for people.

Read more on Cedula de Habitabilidad: What is the legal due diligence for your Spanish property?

Back to the list of Spanish Real Estate terms

 

Contrato de Arras

 

The Contrato de Arras is the private purchase contract called as well Contrato Privado de Compraventa.

It takes place after the Contrato de Reserva. You will need to pay your deposit: 10% of the property within 10 days (including your Contrato de Reserva deposit).

As soon as the necessary legal checks have taken place, you will be required to sign the private purchase contract which will state the full price of the property.

Why is it important? Once you signed it, you are committed to purchasing the property or lose the full 10% if you change your mind.

Read more on Contrato de Arras: The 9 steps to your Spanish Property

Back to the list of Spanish Real Estate terms

 

Contrato Privado de Compraventa

 

The Contrato Privado de Compraventa is the same as the Contrato de Arras: it is the private purchase contract of the property. Please read Contrato de Arras for more.

Read more on Contrato Privado de Compraventa: The 9 steps to your Spanish Property

Back to the list of Spanish Real Estate terms

 

Contrato de Reserva

 

The Contrato de Reserva expresses your intent to purchase a property. It removes the property from the market, it is the reservation contract.

In general, you will need to pay a holding fee of €3000 to 6000. Funds are held in escrow for 14 to 21 days and you have the time to do checks on the property during that period. At the same time, a purchase contract will be drawn up and legal checks carried out.

Why is it important? This contract is very important, don’t sign without including provisions so you can exit the contract and get your funds back

The cash ideally held by a reliable third party

Read more on Contrato de Reserva: The 9 steps to your Spanish Property

Back to the list of Spanish Real Estate terms

 

Impuesto sobre Bienes Inmuebles (IBI)

 

Impuesto sobre Bienes Inmuebles or in short IBI is a local tax any owner has to pay on any Spanish property.

Who has to pay for it? Any owner of a Spanish property, local or foreigner.

How do you know? You’ll get a letter after June of any year but some local authorities don’t send it. You owe this tax

Who is the beneficiary? The tax is payable to your local Town Hall. Those are for infrastructure, waste collection,…

Where can I pay for it? Your local Town Hall, a few of them are available online.

How is the Tax Calculated? The IBI is based on the Valor Catastral. The Valor Catastral can be legally adjusted if needed by any Town Hall.

Our tip: by working with a Spanish real estate lawyer, he will make sure that the previous owner paid for it, if it is not the case, you’ll have to pay for him!

What if your property is empty? You owe the tax!

Read more and find all our tips on Impuesto sobre Bienes Inmuebles: The cost of owning your Spanish property, What taxes do you have to pay on your Spanish property?

Back to the list of Spanish Real Estate terms

 

Inspección Técnica de Edificios (ITE)

 

Inspección Técnica de Edificios or in short ITE is an obligation to carry out a Technical Inspection of Buildings if they are old. It falls on the owners. To facilitate this, some City Councils prepare a register of buildings subject to inspection, which is made publicly available for a period of 30 days in the last quarter of the year preceding the start of the corresponding term.

 

These reports must specifically cover:

  • The condition of the structure and foundation.
  • The condition of interior and exterior facades, party walls, and other elements, particularly those that could pose a danger to people, such as cornices, projections, overhangs, or decorative elements, among others.
  • The state of conservation of roofs and terraces.
  • The condition of the building’s general plumbing and sanitation networks.
  • The state of existing accessibility elements in the building.

 

Back to the list of Spanish Real Estate terms

 

Licencia de obra menor

 

The licencia de obra menor is a license that you need from the local authorities if you are doing some small renovation works. So, you will never modify the structure of the property with your reforms.

When do you need a licencia de obra menor? Here are a few examples: changing tiles, renovating the plumbing and electrical installation or changing doors or windows are a few examples.

The licencia de obra menor could be required by the local Spanish administration or “ayuntamiento” to undertake these and other projects. Depending on the size of the intervention, we can distinguish between a minor building permit and a major building permit. It is always better to check with your entrepreneur so you won’t have any issues with our neighbours.

How much does a minor building permit cost? Each local authority will decide the value of the building permits. It may be free as some administrations have abolished it.

If you are looking for a renovation team anywhere in Spain, first, check our network of local renovation experts anywhere in Spain.

In the case of this renovation, a licencia de obra menor was needed: A full kitchen renovation in Barcelona.

Back to the list of Spanish Real Estate terms

 

Licencia de ocupación

 

The Licencia de ocupación or the Cedula de Habitabilidad is an administrative document that certifies that a dwelling complies with the minimum conditions of habitability provided for in current regulations and is suitable for use as a residence for people.

Read more on Licencia de ocupación: What is the legal due diligence for your Spanish property?

Back to the list of Spanish Real Estate terms

 

Modelo 210

 

The Modelo 210 is the form that you will have to fill to pay your national tax that you owe to the Spanish state as an owner of Spanish property as a non resident. In short, it is the Non-Resident Income Tax without permanent establishment or Form 210.

You are renting out your apartment => Quarterly filling, before the 20th of the month following the end of the quarter.

Our Tip: you have items that could reduce this amount, check with your Spanish real estate advisor.

Your apartment is not rented => Yearly filling, before the end of the following year.

Read more and find all our tips on modelo 210: The cost of owning your Spanish property, What taxes do you have to pay on your Spanish property?

Back to the list of Spanish Real Estate terms

 

Número de Identificación de Extranjeros

 

The Número de Identificación de Extranjeros or in short NIE is a unique tax identification number in Spain for anyone who isn’t a Spanish citizen. You will need your own NIE number to purchase property and pay necessary taxes! So it’s wise to apply for this as soon as you start looking for properties. You can get it in person in Spain or via a Spanish Consulate if you don’t have time to apply when you are over there. For your spouse as well if you buy together.

Read more on NIE: Your ultimate guide to your NIE number, The 9 steps to your Spanish Property

Back to the list of Spanish Real Estate terms

 

Registro de la Propriedad

 

It is the official land registry of Spain.

Read more on Registro de la Propriedad: The 9 steps to your Spanish Property

Back to the list of Spanish Real Estate terms

 

Valor Catastral

 

It the official value of a property given by the tax authorities in Spain. National Taxes (Modelo 210) and local taxes (IBI) are calculated with that value.

Read more on Valor Catastral: The 9 steps to your Spanish Property

Back to the list of Spanish Real Estate terms

 

Need more help?

 

No worries we have a network of local lawyers speaking your language and Spanish

Your first step will be to find a reliable independent lawyer who is specialized in Spanish land and property law. Unless you speak fluent Spanish, you should find a lawyer speaking your mother tongue in Spain. Check on HowtobuyinSpain.com. More on that here: What is the legal due diligence for your Spanish property?

Looking for a property lawyer in Spain? Check all our partners here!

 

The post An A-Z of Spanish Real Estate terms you should need to know appeared first on How to buy in Spain.

]]> https://howtobuyinspain.com/en/buy-property-in-spain/spanish-real-estate-terms/feed/ 0 What is the real cost of owning your Spanish property in 2023? https://howtobuyinspain.com/en/buy-property-in-spain/real-cost-owning-spanish-property/ https://howtobuyinspain.com/en/buy-property-in-spain/real-cost-owning-spanish-property/#respond Tue, 30 May 2023 07:01:24 +0000 https://howtobuyinspain.com/?p=3624 Translate this page:   What is the real cost of owning your Spanish property as a non-resident?   Congratulation for your purchase, now let’s check the annual costs of owning your property. You’ll have those divided into five different groups: Taxes, Insurance, Utilities (Electricity, Water, Gaz, Television, Internet, Telephone), the

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What is the real cost of owning your Spanish property as a non-resident?

 

Congratulation for your purchase, now let’s check the annual costs of owning your property.

You’ll have those divided into five different groups: Taxes, Insurance, Utilities (Electricity, Water, Gaz, Television, Internet, Telephone), the charges of your own property and eventually Community Charges.

Let’s have a look at a concrete example: a two bedroom apartment in Barcelona of 100 m2 with a market price in 2022 of 440.000€ and a “valor Catastral” of 100,000€. We assume a rental value of 18.000€.

 

  1. Taxes

    If you want to have a detailed view from our experts on this subject, have a look at our article: What taxes do you have to pay on your Spanish property?

    Here is a quick summary:

    a. Local Tax: IBI, “Impuesto sobre Bienes Inmuebles“:

    What is it? A local tax on any Spanish property.

    Who has to pay for it? Any owner of a Spanish property, local or foreigner.

    How do you know? You’ll get a letter after June of any year but some local authorities don’t send it. You owe this tax

    Who is the beneficiary? The tax is payable to your local Town Hall. Those are for infrastructure, waste collection,…

    If you pay too late, you will have to pay a penalty.

    Where can I pay it? Your local Town Hall, a few of them are available online.

    Our tip: A few of them allow domiciliation of payment: very easy, they will take the amount from your account every year. A very good solution if you are living abroad. Make sure your account balance is sufficient: some banks would refuse to pay or would charge you a high interest if the account would fall into negative territory.

    How is the Tax Calculated? The IBI is based on the “Valor Catastral“. The “Valor Cadastral” can be legally adjusted if needed by any Town Hall.

    Our tip: by working with a lawyer, he will make sure that the previous owner paid for it, if it is not the case, you’ll have to pay for him!

    What if your property is empty? You owe the tax!

    Our tip: After buying a property, register your property with the Town Hall within two months. Take all the official documents with you. Most of the time, your lawyer will do this for you.

    If you forgot it, your local town hall could recoup the amounts due for the last 5 years + penalties… So, now you know!

    The IBI for the apartment in Barcelona is under 0.6% of the “Valor Catastral“: i.e. 360€

     

     

    b. State Tax: You are renting it. You are not renting it… Modelo 210 – Form 210

    A. You are renting out your apartment => Quarterly filling, before the 15th of the month following the end of the quarter.

    The State tax for the apartment in Barcelona is 19% of the “Rental Value“: i.e. 3648€ on an annual basis and 912€ on a quarterly basis.

    Our Tip: you have items that could reduce this amount, check with (y)our lawyer.

    B. Your apartment is not rented => Yearly filling

    The State tax for the apartment in Barcelona is under 0.2% of the “Valor Catastral“: i.e. 200€

    Where can you find the Spanish form 210 directly in English?

    Where can you find the official information for filing your Spanish Form 210 in English?

    Have a look at the help guide written in English by the Spanish Authorities.

    Our Tip: Pay attention, if you bought the property with someone else (spouse, kids,…), everybody needs to do one filling for the taxes!

    Our Tip: Take advantage of our network and get your filling done by someone on the ground.

     

  2. Insurance

    The insurance should be around 0.05% of the price of your property.

    The insurance for the apartment in Barcelona is under 250€.

    Our Tip: Many insurance brokers in Spain speak foreign languages. Ask a quote from our home insurance partner in Spain.

     

     

  3. Utilities

    If your apartment in Barcelona is empty, you’ll have a few charges just to have accounts open and running:

    +/- 15€ / month for water

    +/- 20€ / month for electricity

    +/- 6€ / month for gas

    For a total of 41€ / month if your apartment in Barcelona is not rented.

    If your apartment in Barcelona is rented, charges may increase up to 150€ / month. With inflation rising since 2021, you should expect those costs to increase even more in the future.

    Our Tip: If your Gas meter needs to be reopened, you’ll have to get a technician to certify that your installation standards is fine. Count about 150€ for this.

     

  4. Community Charges

    This charge depends on the property you bought:

    • Is there a lift in the building?
    • Is the property new? Does it need more or less of maintenance?
    • Are many properties empty?
    • Do you have a swimming pool?
    • How often is the property cleaned?

    For your apartment in Barcelona count between 50€ and 100€ per month.

    Our Tip: Ask for the last Assembly documents before buying. Your lawyer will do this in general. You will get a much better picture on those costs and on the costs carried on the property in the past or to be done in the future.

     

  5. Charges of your own property

     

    To sum up: 0.8% per year:

    • 0.15% Local tax,
    • 0.05% National tax(not rented ),
    • 0.05% Insurance,
    • 0.1% Utilities (empty),
    • 0.3% Community charges,
    • 0.1% Property charges

     

     

    Do you want to be sure of the cost of buying a Spanish property? Read the news we wrote on this. Last but not least another interesting paper is: cost of living in Spain vs any country in the world.

     

     

     

    All those information are from reliable sources. We advise you to check those with your fiscal and legal advisor in Spain in order to get all those costs up to date and adjusted to your specific situation. Find your Spanish property lawyer here.

     

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    If you don’t know where to buy, this general article on the Spanish Real Estate market could be very useful: Everything you ever wanted to know about the top 20 Spanish real estate markets

     

    Get your insights right to your mailbox? Register for our weekly newsletter.

    This infographic could help you before buying your new property in Spain.

    Tips, Move, Spain, Buying, Property, Real Estate

    Don’t try to do it alone, you think you will save money, but you will WASTE money

 

Stéphane Senior analyst and strategist at HTBIS

Stéphane, with over 20 years of experience in real estate, finance and entrepreneurship, is the co-founder of www.howtobuyinspain.com. With an extensive network of local partners in Spain, his deep commitment to the real estate sector combined with strong analytical skills and a problem-solving mentality have fueled his success. Constantly eager to learn and passionate about teaching, Stéphane believes in the power of knowledge sharing to master any subject.

Check the full HTBIS team here

 

Our FAQ on Cost of buying a house in Spain

What are the costs of owning a property in Spain?

The quick answer is: 0.7% per year: 0.1% Local tax 0.02% National tax(not rented ) 0.05% Insurance 0.1% Utilities (empty) 0.3% Community charges 0.1% Property charges Read our article to have the details

Do I need a Spanish bank account to buy a property in Spain?

The obvious answer is yes. You want to finance a property in Spain, you will have taxes, utilities, ... Get it right away. In order to open your bank account, you will need a NIE, see our news on that.

How much tax do you pay when buying a property in Spain?

The cost of buying a resale or a new build in Spain is between 12 and 15%. Please read our full article on that subject.

Is buying property in Spain a good idea?

Spain is the top destination for holidays in Europe by far. Read our article: 10+ reasons why you should buy in Spain, for more on that

 

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]]> https://howtobuyinspain.com/en/buy-property-in-spain/real-cost-owning-spanish-property/feed/ 0 5 Reasons to work with our experts in Spain 1. Best Professionals 2. Follow up 3. Competitive pricing 4. Partners 5. Qualitative Check Our best partners deals in Spain Modelo 210 – Form 210 filling Find Insurance in Spain euro-1633170_1920 Property-Buyerss-Guides-in-Spain Cost of living for worldwide cities Our reports on how to buy a property in Spain Infographic Top 8 tips for not wasting money when you buy in Spain Don't try to do it alone, you think you will save money, but you will WASTE money Stéphane co-founder of HTBIS