If you are about to buy a property in Andalucía you may want to know that you will be enjoying a substantial saving in transfer tax, always depending on the value of the purchase. The higher the value the higher the saving.
It is the obligation of the buyer to pay transfer tax while purchasing a property. The Junta de Andalucía has reduced the transfer tax to 7% flat since April 2021. Before this reduction transfer tax rates were 8% for the first 400.000 Euros, 9% for the segment between 400.000 Euros and 700.000 Euros and 10% for values above 700.000 Euros
For example, a property that is bought now for 200.000 Euros the savings are 2.000 Euros. However, if the property is bought for 900.000 Euros the savings are 16.000 Euros.
For more information on how to save money while buying a property please contact us