Dear Valuable Clients,
We would like to remind you of the measures that came into force this past spring that affects the entire Andalusian real estate market.
TEMPORARY TAX REDUCTION & PROPERTY TRANSFER TAX
Since the last April 27th, the Junta de Andalucia has approved some temporary measures that are already published in the BOJA, Decree-Law 7/2021, which reduces the rate of property transfer tax and the stamp duty in order to promote and reactivate Andalusia’s Real Estate Investment in the face of the crisis generated by the coronavirus pandemic (COVID19).
The tax rate of the ITP applicable to the transfer of properties has been reduced from the rates of 8%, 9%, and 10% to a general rate of 7%.
The Stamp duty has been reduced from the tax rate of 1.5% to 1.2%.
The reduction will be applicable to taxable events accrued from the entry into force of the decree-law (April 28) and until December 31, 2021.
This is the time to buy your next property here in Costa del Sol!
Contact us now for our portfolio of great opportunities!