To avoid, as much as possible, more Casas Orsola. This is one of the objectives of the new Government agreement, which will double the Transfer Tax (ITP) for large holders who purchase second-hand homes in Catalonia. The measure, agreed by the Govern and Comuns, also extends to any buyer who acquires an entire building, although with certain exceptions.
The aim of the measure, according to the Minister of Economy, Alicia Romero, and the Comuns spokeswoman, Jéssica Albiach, is to put an end to the “absurdity” of an individual who buys an apartment to live in paying the same tax as a “speculator” who buys a whole building to do business. The agreement seeks to prevent the latter from continuing to “easily enrich themselves” with an essential good such as housing.
200 million extra profit
The pact will increase the ITP for properties of higher value and will put an end to the tax rebate for real estate companies that buy houses to resell them.According to the Govern and the Comuns, the changes could generate about 200 million euros a year extra to allocate to housing policies. “Speculating with an essential good will be more expensive: whoever buys homes to accumulate and do business will pay 20% instead of 10%,” they point out.With the changes, the ITP brackets are as follows:
- Up to 600,000 euros: 10%.
- Between 600,000 and 900,000 euros: 11%.
- Between 900,000 and 1,500,000 Euros: 12%.
- Over 1,500,000 euros: 13%.
An increased rate of 20% will be applied to the acquisition of houses by large holders and to the purchase of entire buildings, except for those of up to four houses, provided that the buyer is not a large holder and that the property is intended for his habitual residence during the three years following the purchase, either for himself or for his family members.
Who can be considered a large holder?
The housing law defines large holders as owners of five or more homes located in stressed areas. These zones can be consulted on a specific map. The Consell Executiu approved this Tuesday a Decree Law that ensures the entry into operation of the Register of large housing holders, forcing them to register and communicate the number of homes they own.The real estate sector has not received the measure well. Carles Sala, spokesman for the Col-legi d’Agents de la Propietat Immobiliària de Catalunya, has predicted in statements to 324 that “it will increase the price of transactions” of housing.
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