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Taxes Involved in Buying a Home in Spain Practical Guide - Taxes Involved in Buying a Home in Spain: Practical Guide

Acquiring a home in Spain entails a whole series of expenses beyond the sale price. It is worth considering them because these expenses may represent around 10 – 12% above the property price. Specifically, the highest of these costs are taxes.

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Andalucia rebaja el Impuesto de Transmisiones Patrimoniales y Actos Juridicos Documentados - Andalusia reduces the Tax on Patrimonial Transmissions and Documented Legal Actions

The decision of the Andalusian government will have a significant impact on those who buy a home before December 31, 2021, the end date of the measure. We must consider that the Tax on Patrimonial Transmissions and Documented Legal Actions is the most outstanding tribute that buyers of second-hand property must pay.

In Andalusia, this tax levied between 8% and 10% according to the property's value. Nevertheless, since the end of April, the Tax on Patrimonial Transmissions has become a single general rate of 7%. Meanwhile, that of Documented Legal Actions, which is satisfied when formalizing the public deed of sale, goes from 1.5% to 1.2%.

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