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Tax on buying and selling a property in Spain
Do you dream of buying a property in Spain? Then there are of course several things that you will have to take into account. For example, you will have to inform yourself well in advance about the tax and legal side of the matter. Our experts will help you on your way and answer any questions you may have. But what about the tax when buying a house in Spain?
How much taxes will you have to pay?
The taxes you will have to pay on the purchase of your home vary. A VAT rate of 10% applies to a new-build house. If you buy a property that is specifically built for rental (and already has a tourist rental license), you pay 21%. For resale within our working areas, 10% applies to the Costa Blanca and 8% to the Costa Cálida. We inform you down to the last detail and let you know in which tax bracket you fall before purchasing.
Selling a house in Spain: taxes
Even if you sell your house in Spain, you will of course have to pay taxes. You do that on the profit you make. A distinction is made between residents and non-residents in Spain. If you belong to the first category, you will have to pay a different tax rate depending on the profit made on your house.
For Spanish residents the following rates apply: With a profit of up to 6,000 euros, you pay 19%. If your profit is between 6,000 and 50,000 euros, you pay 21%. With a profit between 50,000 and 200,000 euros, 23% is deducted, while between 200,000 and 300,000 a rate of 27% applies. Finally, you pay 28% on a profit of more than 300,000 euros.
But what if you don’t live in Spain? Then you pay 19% if you are a resident of a country in the European Union. For residents of a country outside the European Union, that rate is increased to 24%.
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