Know Before You Sign – Total Costs of Buying in Bilbao
Foreign buyers often budget for the purchase price — and forget the taxes and fees that follow. In Bilbao, you can expect an additional 10%–13% on top of the property value, depending on the situation.
This article breaks down:
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Mandatory taxes
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Notary and registry fees
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Legal costs
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Recurring property taxes
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Hidden charges to prepare for
đź“‹ 1. Main Purchase Taxes in Bilbao
Bilbao is in the Basque Country, so taxes are handled by the DiputaciĂłn Foral de Bizkaia. There are two primary taxes depending on the type of property:
🏠For Resale Properties:
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ITP (Impuesto de Transmisiones Patrimoniales)
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Rate: 4%–6% depending on property value and buyer profile
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Paid within 30 days after signing the public deed
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Applied on resale (second-hand) homes
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🏗️ For New Properties:
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VAT (IVA): 10%
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Stamp Duty (AJD): 1%–1.5%
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Only applies to new builds bought directly from developers
🖋️ 2. Notary & Land Registry Fees
| Fee Type | Estimate |
|---|---|
| Notary Fees | €600 – €1,200 |
| Land Registry | €400 – €900 |
| GestorĂa (optional admin help) | €300 – €600 |
We coordinate with the notary and registry and handle these costs transparently.
⚖️ 3. Legal Fees
It’s strongly advised to hire an independent Spanish lawyer, especially as a foreign buyer.
| Service | Fee Range |
|---|---|
| Legal Representation | Flat fee or 0.8%–1.5% of property value |
| NIE Application | €100–€300 |
| Power of Attorney (POA) | €150–€250 |
âś… Borderless Lawyers offers flat-fee packages for full legal protection.
🧾 4. Recurring Property Taxes (After Purchase)
| Tax | Description |
|---|---|
| IBI (Impuesto sobre Bienes Inmuebles) | Annual municipal property tax (~€200–€1,000/year) |
| Basura (Waste Tax) | Charged by local council (~€100/year) |
| Non-resident Income Tax | 19% of imputed rental income (if not rented) |
| Rental Income Tax | 19% on net profits (EU residents), 24% (non-EU) |
We handle ongoing tax compliance through trusted local tax advisors.
🕵️ 5. Hidden Costs Foreign Buyers Overlook
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🔌 Utility connection deposits (water, gas, electricity)
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🛠️ Community renovation fees (common areas, elevators)
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🧱 Structural repairs post-purchase
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đź’¶ Currency exchange & transfer fees
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🏦 Mortgage setup fees, if financing through a Spanish bank
đź’ˇ We review all these items during due diligence and provide cost estimates upfront.
🧮 Example Budget for a €300,000 Apartment in Bilbao
| Item | Amount |
|---|---|
| ITP (6%) | €18,000 |
| Notary + Registry | €1,500 |
| Legal Fees (1%) | €3,000 |
| Other Costs (NIE, POA, gestorĂa) | €500 |
| Total Extra Costs | ~€23,000 |
| Grand Total | €323,000 |
✅ We help you budget with precision — no surprises.
đź’Ľ Why Work with Borderless Lawyers?
We help foreign buyers:
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Understand total tax and fee exposure
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Access tax planning tools (e.g., deductions, allowances)
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Avoid double taxation
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Navigate regional rules in Bizkaia
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Comply with Spanish and international tax law
đź“ž Need Help Budgeting Your Purchase in Bilbao?
Let our legal team provide a clear, custom breakdown of your expected taxes and fees based on your nationality, property type, and region.