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ITP lowered to 7% in Andalusia approved!

The Andalusian government has approved this Tuesday, April 28, 2021, a temporary reduction in the tax on property transfers (ITP) to a single linear rate of 7%. The ITP goes from having rates of 10%, 9%, and 8% to a single rate of 7%. Additionally, the general tax for documented legal acts will drop from 1.5% to 1.2%.

According to the Vice President of the Board, Juan Marín, the reduction of the ITP has been brought forward to revive the real estate sector of second-hand homes in Andalusia and to encourage the supply of new construction at more affordable prices, by reducing taxable tax costs. by the modality of documented legal acts.

The measure will be effective from the day following its publication in BOJA until December 31, 2021.