What it really costs to buy: Spain vs Italy vs France vs Greece vs Portugal
Statutory transfer taxes, notary scales and annual property taxes compared across Spain, Italy, France, Greece and Portugal — with the realistic all-in total for each.
The advertised price is never what you pay. Across the Mediterranean the gap between the agreed price and the money that actually leaves your account ranges from roughly 6% to 15%, depending almost entirely on which side of a border the house sits. This is the table we give every buyer before they shortlist.
All-in acquisition cost, resale property
| Country | Main transfer tax | Notary & legal | Realistic total |
|---|---|---|---|
| Spain | ITP 6–10% (regional) | ~1.5% | 10–13% |
| Italy | 9% on cadastral value (2% prima casa) | 1–2.5% notaio + 3% agency | 9–15% |
| France | Droits de mutation ~5.8% | Inside the frais de notaire | 7.5–8.5% |
| Greece | 3.09% transfer tax | ~2.5% notary + lawyer | 7–10% |
| Portugal | IMT 1–7.5% sliding + 0.8% stamp | ~1.5% | 6–9.5% |
Indicative, reviewed August 2026. Rates change and several are regional — confirm with a local lawyer.
Where the surprises are
Spain. The transfer tax is set by the autonomous region, not by Madrid. The same €600,000 villa costs €42,000 in transfer tax in Andalucía (7%) and €60,000 in the Valencian Community (10%). New-build is a different regime again: 10% IVA plus 0.5–1.5% stamp duty.
Italy. The headline 9% looks brutal until you learn it is charged on the rendita catastale revalued, not on the price. On an old village house the taxable base is often a third of the market price. The offset is that Italian buyers customarily pay agency commission of 3% plus VAT, on top of what the seller pays.
France. The most predictable of the five. "Frais de notaire" of 7–8% on resale is almost all departmental transfer duty, not the notaire's fee. New-build drops to 2–3% because VAT sits inside the developer's price.
Greece. The lowest headline tax in the group at 3.09%, but professional fees are higher and the title search matters more: Greek titles pass through inheritance chains that need tracing back decades.
Portugal. IMT is a genuine sliding scale, so cheap purchases are cheap to tax and expensive ones hit 7.5% above roughly €1.1m. Add 0.8% stamp duty on everything.
Annual cost of ownership
| Country | Annual property tax | Notable extra |
|---|---|---|
| Spain | IBI 0.4–1.1% of cadastral value | Non-resident income tax, 19% EU / 24% non-EU |
| Italy | IMU 0.46–1.06% (second homes always pay) | TARI waste tax |
| France | Taxe foncière (commune-set) | Taxe d'habitation on second homes; IFI above €1.3m |
| Greece | ENFIA, €2–€16 per m² | Rental income taxed 15–45% |
| Portugal | IMI 0.3–0.45% of VPT | AIMI 0.7–1.5% above €600,000 |
How to use this
- Deduct the acquisition cost from your budget before setting a price ceiling — on a €800,000 purchase in Spain that is €80,000–€104,000.
- Ask for a written cost estimate from the notary or lawyer at offer stage. In France the notaire will produce one on request; in Spain your lawyer should.
- If you will let the property, model the income tax as well as the annual tax. Greece's progressive bands and Spain's flat non-resident rate produce very different net yields.
Sources: Agencia Tributaria (ES), Agenzia delle Entrate (IT), Service-Public.fr (FR), AADE (GR), Portal das Finanças (PT).