Buying costs
What does buying a home in southern Europe really cost?
The asking price is not what you pay. On top of the purchase price come transfer tax, notary and legal fees, and they vary widely by country and even by region. They never appear on the listing. Below are the buying costs for an existing home, per destination, as of October 2026, for a buyer who is not resident in that country.
SPAIN · DEPENDS ON THE REGION
Andalusia, Costa del Sol: transfer tax (ITP) 7%, plus notary and land registry 1 to 1.5%.
Valencia region, Costa Blanca: ITP 9%, rising to 11% once the property is worth more than €1 million. Plus 1 to 1.5%.
Balearic Islands: ITP in bands: 8% up to €400,000, rising to 12% between €1 and €2 million and 13% above that. On €2 million that works out at 10.5%. Plus 1 to 1.5%.
Note: a new build pays no ITP but 10% VAT plus stamp duty (AJD), 1.2% in Andalusia and 1.4% in Valencia.
FRANCE · CÔTE D'AZUR
The “frais de notaire” come to about 7 to 8% all-in for an existing home, of which 5.81% is tax: the Alpes-Maritimes did not adopt the increase to 5%. They are lower for a new build.
ITALY · TUSCANY AND LAKE COMO
Registration tax (imposta di registro) 9% for a second home, at least €1,000, plus two fixed charges of €50 and notary fees of 1 to 2%. If you buy as a private individual from a private seller, the 9% is usually charged on the cadastral value rather than the price, and that is often much lower.
GREECE
Transfer tax 3.09%, plus notary fees of 1 to 2%. The lowest of all our destinations.
PORTUGAL · ALGARVE
IMT and stamp duty together 8.3%. Since 2026 non-residents pay a flat IMT rate of 7.5% on a home (Decreto-Lei 97/2026), plus 0.8% stamp duty. A buyer who becomes resident in Portugal within two years can reclaim the difference from the ordinary rates. Notary and registration fees come on top.
CYPRUS
Transfer fees effectively about 4% for an existing home (bands of 3, 5 and 8%, with a statutory 50% reduction). Stamp duty was abolished from 2026. Legal fees 1.2 to 2%. A new build pays VAT instead of transfer fees.
WHAT THIS MEANS IN PRACTICE
€62,000 to
€220,000
On a €2 million home, transfer tax ranges from about €62,000 in Greece to €210,000 on the Balearic Islands and €220,000 on the Costa Blanca. More than three times as much, for exactly the same price.
Three things to remember. Existing homes and new builds are taxed differently: a new build pays VAT instead of transfer tax, often more. Within Spain the rate differs by region, sometimes sharply. And always work with the total buying costs, not the asking price.
Sources. Tax rates from the legislation itself: Ley 5/2021 (Andalusia), Ley 13/1997 (Valencia) and Decreto Legislativo 1/2014 (Balearic Islands) in the BOE, Ofício-Circulado 40131/2026 of the Portuguese tax authority, the DGFiP transfer duty table of 1 June 2026, the Agenzia delle Entrate and Cap. 219 (Cyprus). Notary and legal fees are typical ranges. Indicative, as of October 2026, not tax advice: have your own situation checked by a local adviser.