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📊 Real estate tax breakdown details
The Property Transfer Tax (Impuesto sobre Transmisiones Patrimoniales — ITP) is a mandatory tax paid by the buyer when acquiring second-hand property. In the real estate market, the ITP applies only to existing/used homes (newly built homes instead pay VAT).
🔍 How much is ITP in Spain in 2026?
As a devolved tax, each autonomous community in Spain establishes its own tax brackets and discounts. The standard rate generally ranges between 6% and 10% of the property value:
- Madrid: Features the lowest standard rate in Spain at 6%. If you are under 35 years old and purchasing your first primary home, a reduced rate of 4% applies.
- Andalusia: Standard rate of 7%. A reduced rate of 3.5% applies to buyers under 35 or large families buying a home valued under €150,000.
- Catalonia: Standard rate of 10% (increasing to 11% for luxury properties over €1,000,000). A reduced rate of 5% applies to young buyers under 32.
- Valencia: Standard rate of 10%, with a reduced rate of 8% for young buyers under 35.
- Basque Country: A competitive standard rate of 4% (reduced to 2.5% for primary residences, and 1.5% for large families).
[!IMPORTANT] The taxable base is determined by the Cadastral Reference Value (Valor de Referencia de Catastro). If the purchase price is higher than this value, tax is paid on the purchase price; if it is lower, you must pay tax on the cadastral value.
📝 Practical calculation examples
We compare two used home purchases below.
Example 1: First-time young buyer in Madrid
- Since the buyer is under 35, the reduced rate of 4% is applied instead of 6%.
- Formula: €200.000,00 × 4% = €8,000.00
Example 2: General buyer in Catalonia
- Subject to the standard Catalan rate of 10%.
- Formula: €200.000,00 × 10% = €20,000.00
❓ Frequently Asked Questions (FAQ)
The buyer must file and pay the tax within 30 business days following the day after signing the public deed of purchase before the notary.
Payment is made by submitting **Model 600** to the regional tax agency where the property is located, accompanied by a copy of the public sale deed.
Yes, buying second-hand parking spots, business premises, plots, and rustic land is subject to the regional ITP, usually applying the standard general tax rates of the region.