How much tax do you pay in Spain when buying a property?
How much tax do you pay in Spain when buying a property? Taxes on buying a Spanish property This includes new properties that were bought by banks or taken on by them in case of default on mortgage payments, for example. Expect to pay between 8% and 11.5% in taxes on a property purchase in Spain.
Who is exempt from tax in Spain?
Exceptions for paying tax in Spain There're certain instances when you're exempt from declaring your taxes in Spain. Some of them include: If you only have one job and earn less than €22,000 a year. If you've multiple jobs and earn less than €14,000 a year.
Is it wise to buy a property in Spain now?
The Bank of Spain predicts a return of 10% for the Spanish real estate market in 2023. In layperson's terms, buying property in Spain is considered a safe investment. It's highly unlikely that you'll lose any money if you take the plunge – provided you seek expert guidance and support throughout the buying process.