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The sticker price is never the real cost. IMT, stamp duty, notary, and legal fees can add several percent to your entry price — and ignoring them distorts your yield from day one.
The problem
Foreign buyers budget the purchase price and forget the costs stacked on top. By completion, the real outlay is meaningfully higher — and a yield calculated on the sticker price alone was wrong before the ink dried.
The costs to budget
- IMT (property transfer tax) — scaled by price and property use.
- Stamp duty — a percentage of the purchase price.
- Notary and registration — fixed administrative costs.
- Legal fees — for due diligence and the escritura.
- Ongoing IMI — the annual municipal property tax that follows.
Why this shapes your yield
Add these to the purchase price and your true entry cost rises — which lowers the yield on the capital you actually deploy. Model the all-in number, then test it against realistic rent and default risk.
Frequently asked questions
Is IMT the same for everyone?
No — IMT is scaled by purchase price and whether the property is a primary home or investment; confirm the current brackets before budgeting.
