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tax on property sales in spain

Posted: Sun Mar 5, 2023 11:41pm
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Petedaniel

Posts: 19

star1 helpful points

Location: Benidoleig

Joined: 7 Aug 2021

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.

Posted: Mon Mar 6, 2023 12:05am

GrahamLynn

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Posts: 2545

star2382 helpful points

Location: El Raso

Joined: 9 Jul 2017

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

Original Poster

Posts: 19

star1 helpful points

Location: Benidoleig

Joined: 7 Aug 2021

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.

 

Read more...

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

Posted: Mon Mar 6, 2023 2:44pm

John123456

Super helpful member

Posts: 1479

star1072 helpful points

Location: Benidorm

Joined: 27 Feb 2021

Posted: Mon Mar 6, 2023 2:44pm

The following links may be helpful to you:

https://www.housesinspain.com/blog/property-taxes-in-spain#:~:text=check%20this%20documentation.-,How%20much%20is%20selling%20property%20tax%20in%20Spain%3F,a%20percentage%20of%20the%20sale.

https://n26.com/en-es/blog/taxes-homes-sales-purchases-spain

https://propertytaxspain.com/calculator

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