In a boost to the Andalucian economy, the regional government has reduced the transfer tax you pay when you buy a second-hand property to just 7%. This transfer tax known the Impuesto de Transmisiones Patrimoniales or ITP is now a flat rate in contrast to the previous tiered categories of 8% for properties up to €400,000, 9% for €400,001 - €700,000 and 10% for all properties above this threshold.
This reduction has made buying property in Marbella and the surrounding area even more attractive and is only valid for transactions completed before the 31st December 2021, so now is the time to buy!
The Junta de Andalucia announced the initiative in their latest publication the Boletín Oficial de la Junta de Andalucía (BOJA) as a welcome stimulus for the local real estate market.
Marbella Homes have a great selection of properties to meet all budgets and are happy to assist in making the most of this limited offer from the government!