Realize your real estate project on the Costa del Sol and benefit from lower taxes till the end of 2021
If you want to buy a property, it’s now that you will save money on taxes!
Do I really save money?
Proof by example –
Before, the rate of ITP varied according to a scale.
To know:
- up to 400,000 Euros it was 8%
- from 400,000 Euros to 700,000 it was 9%
- Above 700,000 euros, 10%
Take, for example, a property worth 1,000,000 euros.
Previously the IPT for good was:
- 400,000 taxed at 8% = 32,000 Euros
- 300,000 taxed at 9% = 27,000 Euros
- 300,000 taxed at 10% = 30,000 Euros
The IPT total is 89,000 Euros.
Today and until the end of the year
- 1.000.000 taxed at 7% = 70.000 Euros.
Direct saving is 19.000 Euros!
This example was for a 1.000.000 Euros property. Let’s do it for a 300.000 Euros property.
Previously the IPT was:
- 300.000 Euros taxed at 8% = 24.000 Euros
Today and until the end of the year
- 300.000 Euros taxed at 7% = 21.000 Euros
Direct saving is 3000 Euros!
This is good news for buyers, you will save money. This measure was taken in order to boost real estate sales transactions in Andalusia for the year 2021.
Please note the ITP (Impuesto de transmisiones patrimoniales) only concerns properties for resale and not new constructions sold for the first time.
However, it should be mentioned that for new first-sale programs, the registration stamp rate drops from 1.5% to 1.2%. Which is already not bad!
For more informations, you can contact your Atic/Safti agent on Costa del Sol, Marbella area, using this form here.
We have many properties for sale, and if we don’t the one you want, we will find it for you!
Transfer tax drops in Andalusia until the end of 2021 and drops to 7% – Breaking news –
