Buying a house. Taxes

When buying a property there are legal fees which need to be paid to the Notary Public and the Land Registry and taxes to pay on the transfer of the property.

The taxes to be paid depend on which type of property (new or resale) is being bought and where it is located.

New properties:

  • IVA (VAT), at a fixed rate of 10% of the declared value of the property.
  • AJD (Stamp Duty). This tax is in addition to above VAT above and is calculated at a rate of:

– 1,5% for properties located in the Valencian Community.
– 2% of the declared value for properties located in Murcia Community.

> On resales:

  • Impuesto de Transmisiones Patrimoniales (ITP) – Transfer Tax at a rate of:

– 8% of the declared value of the property for properties located in Murcia.

– 10% of the declared value of the property for properties located in the Valencian Community.

 

Please note, tax regulations and tax rates change frequently in Spain, so this information may be out of date. Therefore, it is highly advisable to contact us for the latest information.

 

Browse through the below topics to find more information about purchase conveyancing

 

PURCHASE CONVEYANCING

 

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