tax on property sales in spain

Posted: Sun Mar 5, 2023 11:41pm

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Hi I am in the proses of selling my house in Benidolieg and hoping to find a smaller home in Benidorm. my question is what should I have to pay in tax on selling my property and buying another? I have not been living in Spain continuously since covid, even though I lived there for 37 years until then, I am now 87 years old and married,.and would not be able to afford anything worthwhile if I had to pay the 40% I have been told to expect to have to pay. What with the estate agent and the lawyer frees as well.

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Posted: Mon Mar 6, 2023 12:05am

GrahamLynn

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Posted: Mon Mar 6, 2023 12:05am

Buying a property in CV you pay 10% tax and with the additional fees for solicitors , notary etc you are advised to budget for 13-14% of the purchase price .

Selling a property the fees can vary enormously.

An estate agent will charge approximately 5% , a solicitor approx 1% and then the amount you pay in taxes can vary on whether you hold residency and the amount of profit you have made on the property.You will also have to pay for an energy certificate on the property and if you are on a community you may have to pay to get verification that your fees are up to date.

If you ask your estate agent/solicitor they will be able to give you the fees specific to the properties you are selling and buying.

Lynn

Posted: Mon Mar 6, 2023 1:46pm

Petedaniel

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Posts: 19

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Location: Benidoleig

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Posted: Mon Mar 6, 2023 1:46pm

GrahamLynn wrote on Mon Mar 6, 2023 12:05am:
Buying a property in CV you pay 10% tax and with the additional fees for solicitors , notary etc you are advised to budget for 13-14% of the purchase price .
Selling a property the fees can vary enormously.

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An estate agent will charge approximately 5% , a solicitor approx 1% and then the amount you pay in taxes can vary on whether you hold residency and the amount of profit you have made on the property.You will also have to pay for an energy certificate on the property and if you are on a community you may have to pay to get verification that your fees are up to date.
If you ask your estate agent/solicitor they will be able to give you the fees specific to the properties you are selling and buying.
Lynn

Hello Lyn thank you for your reply to my query I have a TIE but have not been permanently living in Spain for the last 3 years and because of this I was informed I would have to pay some 40% tax as I am hoping to move back permanently and purchasing another home I was hoping this would not apply I have already paid for the house inspection. Peter