SPAIN - Selling a property in Spain

29.10.2022

Capital gains tax (CGT) can be a big barrier to selling a property in Spain. CGT is paid on the profit of selling your home, and the level varies between 19% and 23%, as follows:

  • First €6,000: 19%
  • €6,000–€50,000: 21%
  • €50,000 or more: 23%

If you pay €200,000 for a property and sell it for €350,000, you pay CGT on €150,000. Due to the tiered system, this adds up to €33,260.

You may be able to claim a reduction on CGT to account for inflation, if you are purchasing another property in Spain, or if you are over 65 and have lived in the property as your main residence for more than three years.

Otherwise, unlike in other countries, CGT applies no matter how long you've lived in the property. Your residential status does not affect the application of tax, as CGT should be paid on property owned in Spain even if you are no longer a resident.

Font: https://www.expatica.com/es/housing/buying/spain-property-103805/

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