Non Resident Property Taxes in Spain – Yesterday, the 13th January 2025, President Sanchez proceeded to make a statement that would significantly change the current taxes that would be imposed on Non-EU & Non Resident citizens looking to buy property in Spain. Even though, at this stage, it’s unclear as to what these would fully mean it is our understanding here at Murcia Services, that the proposal would include measures which meant any Non-Resident property owner would end up paying 100% property tax, on top of their purchase.
Shocked? We were too on hearing this, however – we must stress that the proposals are only a proposal and therefore now is not the time to panic nor wonder whether you can still buy your dream home in Murcia, to which the answer is of course a resounding yes! As with many countries globally, political statements are made all the time in order to strengthen a parliament’s position on what they believe to be important issues, so in their very nature they are speeches rather than concrete legal measures.
Much like the UK system, for the proposals to be passed into law they would have to go through a series of Parliamentary Debates and final approval and even then, under Spanish Law, Real Estate and Taxation falls under the jurisdiction of Regional Government meaning that in the property hotspots of Murcia and the Costa Blanca where they know just how much foreign property owners have contributed to the economy in general, they would be unlikely to adopt it.
Of course, paying property taxes in Spain is nothing new and under the current legislation whether you are a resident or not you are liable to pay those taxes when you buy here anyway, much like you would do in the UK or your own home country, but it is definitely worth us mentioning that these proposals for the 100% property tax have only been suggested for Non-Resident owners, meaning it would not apply to anyone wishing to move to Spain permanently via paths such as the Non-Lucrative Visa or the Digital Nomad Visa. In these circumstances, you would be residents of Spain, and therefore exempt.
So, what does all of this mean for those of you looking to buy your dream home in Murcia? Well, if we think about it logically, as it currently stands, it’s not law and it changes very little even in the mid to long term, so you are still able to purchase as normal, whether that means you are looking to buy for holiday home purposes or for re-location.
For further information on buying a property in Murcia or indeed if you have any further questions on non resident property taxes in Spain, please feel free to contact one of the team, and we will be delighted to assist you.