50% ITP Tax Discount for Under 33s Buying Property in Catalonia

If you're under 33 and considering buying a home in Catalonia, you could take advantage of a valuable tax benefit—a 50% discount on the ITP tax (Impuesto de Transmisiones Patrimoniales). This tax is normally 10%- 11% of the purchase price for second hand properties, but eligible buyers only pay 5%, making property ownership more accessible for younger residents.

To qualify for this discount, there are some criteria you need to meet. First, you must be under 33 years old at the time of the purchase. Second, your annual income should not exceed €30,000 if you're buying on your own, or €48,000 if you're purchasing as part of a household. Lastly, the property must be used as your primary residence. This means it’s intended to be your main home, not a second property or an investment.

The potential savings are substantial. For example, on a property priced at €300,000, the standard ITP tax would be €30,000. With the discount, you’d only pay €15,000, saving €15,000 — a considerable amount!

To apply for the discount, check that you meet the eligibility requirements, gather the necessary documentation (including proof of age, income, and a declaration that the property will be your main home), and submit your application when paying the ITP tax.

This tax benefit is an excellent opportunity for young buyers to make the dream of owning a home in Barcelona or anywhere in Catalonia more affordable.

If you’re ready to explore the possibilities, get in touch, and we will put you in touch with one of our partners for expert guidance on how to navigate the process and make the most of this tax discount.