Transfer Tax in Andalucía Reduced to 7%!
The Andalusian government has approved a decree that sets out a reduction in the Transfer Tax paid when you buy a second-hand home (resale) in the region of Andalucía.
The previous rates set in 2020 were:
- 8% (properties up to 400,000 €).
- 9% (properties between 400,000 and 700,000 €).
- 10% (properties over 700,000 €).
These Transfer Tax rates have now been replaced by a flat rate of 7%. This rate only applies to purchases until the 31st December 2021, so don’t delay!
Buyers can also benefit from a small reduction in Stamp Duty Tax on New Build properties from 1.5% to 1.2%.
If you are considering purchasing a property in Andalucía, 2021 is the year to make it happen as your costs will be significantly reduced.
Get in touch with our team today who can explain the change to tax rates in more detail and how you can benefit from these reduced costs if you purchase a home before the end of this year.