- 7% transfer tax (I.T.P) this is paid by the buyer for all Real Estate, unless the vendor is a developer or trades specifically in the business of re-sales.
- 7.5% (7%VAT and 1% stamp duty) for any villa, apartment or garage annexed to an apartment where the vendor is a developer, promoter or habitual trader in these properties.
- 16.5% (16%VAT and 0.5% stamp duty) for parcels of land, commercial premises, or commercial garage spaces, where the vendor is a developer, promoter or habitual trader. This applies to practically all newly urbanized land parcels and newly built commercial premises, and a re-sale where the vendor falls into one of the above categories.
Notary and Property registry Inscription Fees - The notary fees depend mainly on the complexity of the title deed.
- As a rough example an apartment of 300,000 euros might incur 480 euros in notary fees. A house of 600,000 might incur around 600 euros of notary fees. Notary fees shouldn’t ever be more than about 900 euros.
- The property registry inscription fees are 65% of the notary fees.
Plus Valia This is a tax on the seller and is based upon the increase in the value of the land since the prior purchase, calculations are done per square metre and according to the Town Hall Index value. Theoretically this is a tax paid by the seller but in practice it is often paid by the purchaser. There are several variables when calculating the amount owed so make sure that it is verified before you commit yourself to the purchase.
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