Real estate transfer tax

Real estate transfer tax (ITP)  in the Balearic Islands (Mallorca, Ibiza, Menorca, etc.) is calculated progressively, according to the purchase price of the property. Since 01.01.2023 the following tax rates apply:

Purchase price (-Quota)Basic amoundPercent
up to 400.000 €8 %
400.000,01 up to 600.000 €32.000 €9 %
600.000,01 up to 1.000.000 €50.000 €10 %
from 1.000.000,01 up to 2.000.000 €90.000 €12 %
from 2.000.000,01 up to….210.000 €13 %

 

Here are some examples:

  • At a purchase price of   450,000 € the Real Estate Transfer Tax are 8.11% of the purchase price.
  • At a purchase price of   690,000 € the Real Estate Transfer Tax are 8.55% of the purchase price.
  • At a purchase price of   975,000 € the Real Estate Transfer Tax are 8.97% of the purchase price.
  • At a purchase price of 1,150,000 € the Real Estate Transfer Tax are 9.39% of the purchase price.
  • At a purchase price of 2,250,000 € the Real Estate Transfer Tax are 10.78% of the purchase price.


Tax advice

If a primary residence up to 270,151.20 euros (previously 200,000 euros) is purchased, a fixed tax rate of 4% (previously 5%) real estate transfer tax applies. This assumes that the buyer is a resident of Spain.

Stamp duty (AJD)
– the tax on documented legal acts, stamp duty for short, is 1.2% for the latter.
– for real estate worth €1 million or more, a tax of 2% is levied on the first execution of deeds and notarial contracts.

With CCC Real Estate you are on the safe side: We will calculate the real estate transfer tax and other ancillary purchase costs for your desired property before the contract is signed.

Please contact us under +34 971 566 178, or via WhatsApp +34 682 755 501 or via e-mail info@ccc-real-estate.com.