Summary
The price in the advert is not the final price. Before jumping into buying, you should know the 'small print': ITP, notary, registration and agency. We break down all the costs associated with buying a property in Ourense in 2026 so that you can calculate your real budget and avoid last-minute financial surprises.
You've seen a flat for €100,000 and it suits you. But did you know that this is not the final price that will come out of your bank account? One of the most common mistakes when looking for a house is forgetting about the financial “small print”: the taxes and formalisation costs.
At Otoch House we believe in total transparency. So that there are no surprises on the day of the signing, here you have the definitive spending guide to buy in Ourense this 2026.
1. The main “bite”: The ITP (Property Transfer Tax)
If you buy second-hand housing (which is the majority of the market in Ourense), you do not pay VAT, you pay ITP.
- The general rule: In Galicia, the general rate is 8% on the reference value or purchase price.
- The good news (reduced rates): If you are under 36, have a disability or are a large family, this tax can be drastically lowered to 3% or even less, as long as it's for your primary residence and you don't exceed a certain amount of equity. Ask us about this before you do anything else!
2. Notary and Registry
These are compulsory expenses for the house to be legally yours.
- Notary: Their rates (tariffs) are regulated by the State and depend on the price of the property. For an average flat in Ourense, calculate between 600€ y 900€.
- Land Registry: Registering the deed in your name usually costs slightly less than the notary, at around 400€ - 600€.
3. The Gestoria (Optional but recommended)
If you take out a mortgage, the bank will require you to use their agency to ensure that everything is registered correctly. If you buy in cash, you can do it yourself, but for about 300€ - 400€ you save paperwork and visits to the tax office.
Summary: The 10-12% rule
As a general rule of thumb to play it safe, in Otoch House we recommend that you have saved a 10% or 12% extra on the price of the flat to cover all these expenses.
- Example: For a €100,000 flat, you will need to have an additional €10,000 - €12,000 available for expenses (unless you have tax credits).
Does this sound like a mess?
Don't worry. When you visit a flat with us, we will prepare a personalised cost sheet. We will tell you to the penny how much you will pay in taxes and expenses according to your personal profile. Call us and do your accounts with confidence.
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