Real estate market update

One of the most confusing aspects of a property sale is the cancellation of the mortgage.

We will try to explain it in the simplest way possible.

What costs will we have to pay?

When purchasing a new-build property, you pay 10% VAT (IVA) or 7% IGIC in the Canary Islands on the purchase price, in addition to other expenses such as notary fees, Land Registry fees and administrative costs.

Therefore, you should consider additional costs of approximately 12% to 14% on top of the purchase price.

In the purchase of a property with an approved spill over, the responsibility for payment falls on the owner at the time it becomes due, according to article 17.11 of the Horizontal Property Law. If the instalment is paid in monthly instalments...

The long-awaited moment of sale has finally arrived!

We have to prepare all the necessary documentation to go to the Notary's office.

We are Javier and Loli, founders of Gracia Real Estate. We want to share our values and our vision of the company. Get to know us a little better.