Extended Exemption for Property Sales

We have great news about the new capital gains law that has just been approved by the Government. This change is especially relevant for those considering selling a property and planning to purchase another.

Key Changes

• Reduced Period: The capital gains tax exemption now applies to properties purchased only 12 months ago, instead of the previous 24 months.

• Labour Mobility: The measure aims to facilitate geographic mobility for work-related reasons, removing fiscal obstacles.

How It Works

• Purchase and Sale: If you buy a house in 2024, you can sell it the following year and benefit from the tax exemption, provided you purchase another property for primary residence.

• Fiscal Domicile: Proof of change of fiscal domicile is required to benefit from this exemption.

Approval and Next Steps

• The measure was approved by the Council of Ministers on 27 May 2024 and is now awaiting validation in Parliament.

This new law offers more flexibility and opportunities for those looking to invest. To learn more about how this change can benefit your specific situation and explore real estate investment opportunities, visit us on Engel & Völkers Gaia.

We are at your disposal to provide you with all the information you need and help you realise your real estate projects.

Contact us today!