Second Hand
Properties

Taxes to pay

If you are willing to purchase a second hand property in Spain, take into account the taxes you should pay:

1. Plusvalía (Capital Gains tax on land): this is the tax on the increase in the value of the property since the last sale. Nowadays both parties usually agree that the buyer pays it, but according to the law it must be paid by the seller.
2. The Transfer Tax (Impuesto de Transmisiones Patrimoniales).The purchaser must pay this upon signature of the sales contract. Its value is 6% of the purchasing price.