{"id":1759,"date":"2021-05-01T17:27:43","date_gmt":"2021-05-01T15:27:43","guid":{"rendered":"https:\/\/www.teleworkandalucia.com\/?p=1759"},"modified":"2021-08-10T20:32:14","modified_gmt":"2021-08-10T18:32:14","slug":"from-28th-april-2021-it-is-cheaper-to-buy-a-home-in-andalucia","status":"publish","type":"post","link":"https:\/\/www.teleworkandalucia.com\/el\/blog\/2021\/05\/from-28th-april-2021-it-is-cheaper-to-buy-a-home-in-andalucia\/","title":{"rendered":"From 28th April 2021 it is cheaper to buy a home in Andalucia"},"content":{"rendered":"

From April 28, 2021 it is cheaper to buy a second-hand house<\/a> in Andalucia. This is due to the fact that the Andalusian Government has approved to lower the Property Transfer Tax (ITP)<\/a>, which records the purchase of a used home, to 7%. Until that date there were three tax rates set at 8, 9 and 10%, but when this measure came into force they have merged into a flat tax rate of 7%. <\/p>\n

This tax reduction will be felt by the pocket of people interested in buying a second-hand home since it is the highest tax that exists in Spain associated with the purchase of real estate (the percentage of the tax is stipulated by each autonomous community).<\/p>\n

\nExample<\/legend>\n

A practical example will help visualise the savings involved. For a \u20ac180,000 home, the tax payable by the ITP amounted to \u20ac14,400 until April 27 (because it was taxed at the 8% rate that applies to homes up to \u20ac400,000) and from April 28th it becomes \u20ac12,600, that is, \u20ac1,800 less.<\/fieldset>\n

 
\nThis isn't the only home purchase-related tax break approved this week. The general rate of the public deed through which the transfer of a new home is formalized has also been reduced from 1.5% to 1.2%<\/strong>. This tax reduction also translates into lower costs. For example, for a \u20ac200,000 home the tax rate with the 1.5% rate would be \u20ac3,000 and with the reduction to 1.2% it is \u20ac2,400, that is, a further \u20ac600 in savings. <\/p>\n

These advantageous conditions for buying a home will remain until December 31, 2021<\/strong>. Here you can read the full official text<\/a> of the approved measures.<\/p>\n

As explained by the Government of Andalucia, these measures have been taken to alleviate the tax burden on access to housing, both for the purchase of a second-hand and for the sale of new construction, which has a price a little more affordable. In short, it is intended to achieve the reactivation of the real estate sector and the economy in Andalucia after the crisis generated by Covid-19. <\/p>\n

For more detailed information on the taxes and fees that must be paid for the purchase of a home in Andalucia<\/a>, you can read our specific post on the matter.<\/p>\n

Here you can access the statistics on the evolution of the sale of homes in Andalucia <\/a>from 2007 to the present.<\/p>\n

 <\/p>\n

If you are thinking of acquiring a house, we recommend you consult our free guide 'Buying a home in Andalucia'<\/a> (includes answers to frequently asked questions). You may also search for property in Andalucia<\/a> on our website property section.<\/p>\n

Now is the time!<\/p>\n