Legal differences between buying new and second-hand homes in Spain
For many foreigners looking to buy a home in Torrevieja or other parts of Spain, one of the first important decisions is choosing between a new build and a resale property. While both options may seem similar from a practical standpoint, there are significant legal and tax differences that should be understood before making a decision. The first major difference lies in taxation. When buying a resale property, the buyer must pay Property Transfer Tax (ITP), the rate of which varies depending on the autonomous community. In the Valencian Community, for example, the standard rate is usually [...]
