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Go Back   Pollensa Forum > LIVING & WORKING IN POLLENSA > Living & Working in the Pollensa Area

Living & Working in the Pollensa Area This forum is for any comments, questions and advice about living (permanently or temporarily) and working in the Pollensa area. Aimed at ex-pats, property owners etc.

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  #1  
Old 08-02-2012, 08:59
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Default Buying Property....

Good Morning All,

We intend buying a property over the next year or so in PP as a pre cursor for our retirement, & then eventually to move over when that time comes...

Question I have for members re the above is.... Is there a Spanish equivalent of 'Stamp Duty', & also if there is at what price of property does it start at, + also is it on a sliding scale as you move up through the price zones?....

Any information would be much appreciated....

Thanks...
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Old 08-02-2012, 09:13
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If I remember correctly we had to add 11% to cover taxes and other costs involved.
It may however have changed by now.

PP76
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Old 08-02-2012, 12:16
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Thats about the figure we worked too as well.
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Old 08-02-2012, 14:30
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Not far off...................think ours was about 8% ??

Allow 10% and that should definitely be enough.
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Old 08-02-2012, 14:48
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As far as I am aware, as a non-resident, there is no `tax free allowance´before paying tax and tax is paid on the full declared value.
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Old 08-02-2012, 15:01
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I would allow about 10& to cover taxes, solicitor's fees etc.

There are also a selection of good books that cover Moving to Spain.
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Old 08-02-2012, 16:27
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Hi Lovethepinewalk,

The taxes are:-
Conveyency tax or goverment tax 7%.
solicitor or lawyer 1% (in general).
Registry 1%.
Notary 1%. (does not always come to the full 1%)

These percentages are over the price declared on the public deed.
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Old 10-02-2012, 09:07
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Morning All,

Thank you very much for the replies.....

We can see that (at this moment in troubled financial times), that the added on rate is about 10% on average.....

Thanks very much once again....
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Old 10-02-2012, 23:29
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There are some truly excellent offers around at present but be sure to use a legal and correct estate agent who explains everything up front first and provides an english speaking lawyer. Good luck with your search.
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Old 11-02-2012, 01:54
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I have to disagree with JMD40. The estate agent works for the seller so any lawyer sourced through him may not be totally unbiased. Find your own lawyer and make sure he is different to the one used by the seller. There are alot of problems here with properties, extensions, swimming pools etc not having the correct planning permissions. You need a very independant lawyer and make sure he checks properly.
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Old 11-02-2012, 09:25
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Very wise words by Deans.
The most important sentence is majprops `percentage declared on the Public deed.
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