📢 Catalonia Increases Property Transfer Tax:
What Does This Mean for You? 🏠💼
The Catalan government and the “Comuns” party have recently agreed on significant changes to the Property Transfer Tax (ITP), aiming to combat speculation and increase tax revenues. These measures could substantially impact property buyers. Let’s delve into the specifics of these changes and their potential effects on the housing market.
New ITP Tax Rates:
Up to €600,000 – 10% (unchanged)
€600,000 to €900,000 – 11%
€900,000 to €1,500,000 – 12%
Above €1,500,000 – 13%
For large property holders (those owning 5 properties in high-demand areas or 10 in other regions), the tax on property sales will increase from 10% to 20%. This rate also applies to the sale of entire buildings, regardless of their division into apartments.
EL PAÍS
Exceptions:
If the buyer is an individual and the building contains fewer than 5 apartments, the standard rate applies, provided the property is used as the primary residence for at least three years.
Additional Changes:
Elimination of tax benefits for development companies.
A reduced rate of 5% for the purchase of housing by victims of gender-based violence.
Increase in the tourist tax, which may affect demand for short-term rentals and tourist properties.
CADENA SER
These changes could influence the real estate market, particularly for those considering property purchases for investment purposes. The increase in property transfer taxes for large holders may lead to a reduction in speculative transactions and enhance housing availability for individual buyers.
If you’re planning to purchase property in Catalonia, it’s crucial to consider the new tax rates and potential market shifts. Our company is here to guide you through these nuances and help you find the ideal property that aligns with your budget and objectives. Reach out for a consultation – we’re here to assist you in making the right choice!
