TRANSFER TAX REDUCED IN ANDALUSIA UNTIL END OF THE YEAR!By sebcreativos | 10 de May de 2021 |
Would you like to invest and are you waiting for the right moment? Then maybe now is the moment for you!
The government of Andalucia has agreed to a temporary law which states a reduction of the transfer tax. When you complete the purchase of a property this year, you will receive a discount of up to 3% on the transfer tax.
The transfer tax is paid when purchasing a second-hand property. Until now, the transfer tax consisted of three scales, set at 8%, 9%, and 10%, and it is now temporarily set at 7% for all scales.
The stamp duty tax will also be temporarily reduced from 1.5% to 1.2%. This is the tax that is paid after signing the notarial deed within 30 days.
With a newly built property, you also pay 10% transfer tax. This remains the case despite the reduction, which is only intended for second-hand homes. New build properties do have a reduction in stamp duty.
See here the scales of the transfer tax.
-For a property up to €400,000 it is 8% of the purchase price
-For a property from € 400,000 – € 700,000 it is 9% of the purchase price
-For a property above € 700.000 it is 10% of the purchase price.
In our buying guide you will find more about the taxes and about the buying process.
Andalucia is promoting the property market with this and at the same time hoping that people will have more capital left over to invest in other areas. However, this tax reduction is temporary and runs until 31 December 2021 and is only valid in Andalusia.
Take advantage of the tax reduction now! Find our full range of properties here.