Do young people pay less taxes on buying a home?
March, 3rd 2020 Good news for young people who want to buy an apartment! The Tax Agency of Catalonia will make it a little easier for you, if you meet the following requirements:
– Have not yet turned 33 years old.
– That your total tax base, minus the personal and family minimum, lastly declaration of income tax for individuals, do not exceed 30,000 euros.
– And as long as the home you purchase is your usual home. This means that it must be your residence and you will have to be registered in it for the next 3 years.
If so, you will only have to pay 5% of Patrimonial Transmissions Tax, instead of the usual 10% . A big amount that you can dedicate to buying a car parking (as needed in a city like Barcelona), starting a retirement savings (think about it, do not hesitate), or dedicating a part to some piece of furniture. You thought you couldn’t afford it (give yourself a gift, you’ve already been saving to buy the flat) .
There are other cases where a reduced tax is also allowed, and if you want to come to our office, we will be happy to. answer your questions, as well as advise on the best options to buy or sell a home. Current housing prices, the only moment the real estate market is experiencing, short and medium term expectations in the sector, make it very necessary to accompany experts who are registered and trained in the most prestigious associations in the market and all the guarantees and insurance in good condition, which will give you a much needed peace of mind to undertake the purchase or sale of one of the biggest investments you will make in your life, the purchase of your home. We are a group of professionals with more than 17 years of experience in the real estate sector. Come and see us. We have the doors open for you.