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What property taxes do I pay when buying?

Costs, taxes & fees

Resale homes in the Balearic Islands pay Transfer Tax (ITP) on a sliding scale that rises with the price. New-builds pay VAT (currently 10% for homes) plus stamp duty (AJD).

Rates change, so we confirm the exact figures with your lawyer for your purchase.

More in Costs, taxes & fees

What extra costs should I budget on top of the purchase price? What are the ongoing costs of owning a property? Who pays the estate agent's fee? What is the "valor de referencia" and how does it affect my tax? Do I pay tax when I sell?