With the twofold aim of (i) boosting and reactivating the real estate sector seriously affected by the crisis and (ii) easing the tax burden on access to housing for citizens who are likely to suffer the most severe effects of the economic crisis resulting from the pandemic, from 28 April 2021 Andalusia brings into force the reduction in Transfer Tax and Stamp Duty rates.
Specifically, in the Onerous Property Transfers modality, the general tax rate applicable to the transfer of real estate is reduced from rates of 8%, 9% and 10% to a single general rate of 7%.
Likewise, the Stamp Duty rate is reduced, for notarial documents, from 1.5% to 1,2% tax rate.
We believe this is great news that will help to reactivate the economy by increasing the number of transactions subject to these taxes.
