DEL CANTO CHAMBERS – EXPERTISES


Real Estate
Sale & Purchase

If you are purchasing a property in Spain you need specialist legal and tax advice to ensure a smooth and cost-effective transaction. In 1998, the Spanish non-resident income tax law introduced a tax liability on property in Spain owned by non-residents.


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Real Estate Sale & Purchase:


If you are buying a residential property in Spain the amount of tax you will pay will depend on where you are buying and whether it is a new or resale property:
  • If you purchase a new build property, which has never previously been occupied, you need to pay the equivalent of VAT (Impuesto sobre el Valor Añadido – IVA – in Spanish) which is 10% of the price, and Stamp Duty, 1.5% Legal Documentation Tax (Actos Jurídicos Documentados – AJD – in Spanish).
  • If you’re buying a resale property that has previously been occupied, you need to pay transfer tax (Impuesto sobre Transmisiones Patrimoniales – ITP – in Spanish) which is calculated on a sliding scale depending on the purchase price. The national rule of ITP is 7%, but many of the autonomous regions have applied higher local rates.

Our aim is for our clients to simplify matters, reduce costs, maintain their wealth and help it steadily increase.

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