Stamp duty on new build

[marios]

anyone know what % you pay on a new build also what is it based on,is it how much it cost you to build or the actual valuation the bank puts on it.

[ashtondav]

I think it's 7% of the price paid or the building cost

[marios]

your thinking of Vat I mean stamp duty

[El Cid]

The stamp duty is 1% of the value declared on the Escritura.

On top of that you will have the notaries and gestors fees and the cost of registration. If you have a mortgage there will be another 1% to register it.

Sid

[marios]

cheers cid