Buying this as a new build
The building is already standing, so there is no construction to pay for in stages. A reservation secures the penthouse, and the rest of the price is due at the notary, where the deed is signed and the keys change hands. As none of the homes has been owned before, the purchase is taxed as a new build, with IVA at 10 per cent rather than the transfer tax on a resale.
What the lowest-priced home costs in full
- Starting price
- €599,000
- VAT (IVA), 10%
- €59,900
- Stamp duty (AJD), 1.2%
- €7,188
- Your lawyer, about 1% plus VAT
- €7,248
- Notary, land registry and administration
- about €2,100
- Estimated total
- €675,436
An estimate, at the rates in the cost guide. The lawyer’s, notary’s and land registry fees vary with the price and the deed, and a mortgage adds the bank’s own costs.
The list prices run from €599,000 to €825,000 for penthouses of much the same size and layout. I find out from the developer what accounts for the difference, whether it is the outlook, the position in the building or what is sold with the home, and I use that when I negotiate the price for you. As the building is finished, I also check that the licence allowing the homes to be lived in has been issued before you sign.
Get in touch and I will talk you through it. Buying with me sets out how I work.