As a measure to stimulate the economic activity, the regional authority of Andalucia has decided to reduce several taxes until the 31 December of this year.
This applies to the transfer tax that is paid on property purchases and which was previously between 8 and 10 percent depending on the price of the property. This tax has now been reduced to a flat rate of 7 percent.
Secondly it applies to the stamp duty tax that is paid on the purchase of new production. It was previously at 1.5 percent and has been reduced to 1.2 percent.
It is probable that the measure will be extended even after the turn of the year, but this has not been decided at present. Stay informed through Felicity Estates!
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