What happens when you sell a house in Spain?
Capital gains tax (CGT) is effectively a tax on the profit you’ve made on the house – the sale price minus whatever you paid for it. The costs involved in selling it such as the estate agent’s fees can be deducted before the calculation is made. The CGT rate varies between 19% and 23% depending on the size of the gain.
Can you make an offer without selling your house?
Although there is nothing to stop you from making an offer on a home before you have sold yours, people who do so many not always be taken seriously by the vendor, especially if they are looking for a quick sale.
How do I sell my house privately in Spain?
The Steps to Selling Property in Spain
- Appoint a Professional Real Estate Agency.
- The Formal Offer and Letter of Intent to Reserve.
- The Private Arras Contract (Contrato Privado de Arras)
- The Public Purchase Sale Deed (Escritura de compraventa)
- Capital Gains Tax.
- Plusvalía Tax.
- Mortgage Cancellation Fees (if applicable)
How much tax will I pay when I sell my house in Spain?
Do you pay tax when you sell your house if you’re a non-resident? If you are a non-resident you will pay 19% capital gains tax in Spain. This was reduced to a standard levy from 19.5% in 2016. To enforce this rule, the Spanish Tax Authority withholds 3% from the sale of your property.
What taxes do you pay when selling a house in Spain?
Selling property tax: How much is selling property tax in Spain? When selling a property in Spain you need to be aware of the payment of Plusvalia and Capital Gains Tax. The payment of Capital Gains Tax is between 19% and 24% and Plusvalia would be a percentage of the sale.
Do I have to pay tax if I sell my house in Spain?
If you are not a Spanish tax resident, then you may need to pay Capital Gains Tax on any profits you make from selling your property. Even if you are a Spanish tax resident, you will still need to pay Capital Gains Tax if the property is not your main home.