What is property transfer tax
What is property transfer tax?
When you buy a property you pay transfer tax. It is a tax levied by The Government.
If you are going to live in the property yourself, you currently pay a rate of 2% of the value of the property. If you pay € 500.000,- for the property, you should take into account a transfer tax of approximately € 5.000,-. If you are going to rent out the property, after purchase, you will pay 10.4% transfer tax.
It is also possible to reclaim your transfer tax. This is possible if the property is resold within 6 months. Good to know; you do not pay transfer tax on new buildings!