Buying Expenses in the Balearic Islands (Formentera, Ibiza, Mallorca, Menorca). It's advisable to allocate approximately 14% of the property value for buying costs. This breaks down into various components: a maximum 11% tax (akin to the Spanish stamp duty), local taxes, legal fees, and notary fees. In the Balearics, the tax structure is as follows: Up to €400,000: 8% From €400,001 to €600,000:...
Non-residents selling property in Spain are subject to a 24% capital gains tax, except for those residing in another European Union, Iceland, or Norway country, where the rate is reduced to 19%. Since 2015, individuals from European Union or European Economic Area countries with tax information exchange agreements with Spain may benefit from a reinvestment exemption. The new habitual residence doesn't...
In the last semester of 2021, the purchase and sale of free-market housing by foreigners increased by 41.9% compared to the same period of the previous year, returning to a figure very similar to the pre-pandemic average records of 2019, according to data collected by the General Council of Notaries. The "Real Estate Tourist" chooses our country for its attractive investment potential and ease of purchase...