May 2021. Buyers of a property in the province of Andalusia can benefit from a discount on the transfer tax, the ITP, until the end of this year (2021). The standard rate is 8% for a purchase price of EUR 400,000, 9% on the amount above that up to the purchase price EUR 700,000 and 10% on the part of the purchase price above EUR 700,000. The temporary rate is equal to 7%. On a house with a purchase price of EUR 500,000, this results in a saving of EUR 6,000. The stamp tax, so-called AJD, will be temporarily reduced from 1.5% to 1.2%. The regional government hopes this will help to revive the stagnating real estate market. The temporary reduction in the transfer tax is particularly advantageous when purchasing homes in a higher price range. If you buy a house with a mortgage, the bank will pay the AJD. The government of Andalucia has published the amendment in the official information bulletin with reference Decreto-Ley 7/2021.
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