Buying a property in Andalucia, Spain is now somewhat less expensive
The Junta de Andalucia have today announced a reduction in Property Transfer Tax. This is the tax paid by the buyers of second hand properties in Andalucia which, of course, includes Marbella and the Costa del Sol.
Whereas we had a graduated rate of 8%, 9% and 10% previously, the new rate is a straightforward 7%, whatever the price of the property you are buying. This change will be in force from 28th April 2021 until 31 December 2021
For the buyer of a 200,000 Euros property this is a saving of 2,000 Euros whereas buyers paying 1 million Euros will see an amazing saving of 30,000 Euros.
This stimulous by the Andalucia Government is aimed to give a boost to the property market and is generally welcomed by all of us who are involved
