We would be pleased to Sell Your Property in Lanzarote, Canary Islands and to find out more come into La Agencia our Costa Teguise office in Lanzarote and have an informal chat about how we would propose to market and sell your property or simply send Sharon and email requesting costs a valuation and details of our service : firstname.lastname@example.org
We aim to provide a service to our clients who wish to sell their property in the fastest time possible. We will advise you on how to keenly price your property and promote its best aspects.
We will advertise your property via our website plus Zoopla, Prime Location, Think Spain- plus a host of other international property marketing sites aimed directly at persons wishing to purchase in the Canary Islands.
We also use promotions via mailshots and other trusted partners.
We guarantee to work hard at promoting your property on your behalf to ensure the best possible chance of finding you a buyer!
Plusvalia (Town Hall Tax)
This tax is calculated on the difference on the value of the land the property resides on since the previous sale. The local authorities determine the amount of plus valía to be paid for each house purchase in Spain, depending on the area where the property is located. The market value or sales price of the property does not have an effect on the plus valía tax. The tax is calculated according to the ratable value of the property and the number of years it has been in the ownership of the vendor. A retention of the amount due is held back from the seller by the purchasers solicitor so it can be paid on the sellers behalf.
Capital Gains Tax
This tax is payable on the sale of the property and calculated on the difference between the property value at the time of purchase and the selling price. The rate of Capital Gains Tax is 19% however Capital expenditure on the property may be offset against Capital Gains Tax. Eg: property extensions, improvements, swimming pool etc; ask your accountant how to offset any claims but you must produce valid receipts.
Taxes Paid by Non Residents and Tax Retention
If you are NOT a Spanish resident when you sell your property the buyer is obliged to retain 3% of the selling price from the vendor and pass this money over to the Tax Office.
After you have presented a tax declaration your tax liability can be assessed, when this is complete you may be refunded a portion of the deposited money or possibly asked to pay the difference if your tax liability is more than the deposit.
This procedure was put in place by the Spanish and Canarian governments to prevent non residents from leaving Spain without paying the Capital Gains Tax.
If both the house sold and the one that is going to be acquired are classed as ” vivienda habitual ” ( permanent residency ) the proceeds or indeed gains from the sale will be tax exempt if reinvested before two years.
Please note that this is the way it stands now and that you should always seek advice to check their specific situation with your own accountant.
It does not apply to commercial, only when selling and buying ” residencia habitual ” ( VERY IMPORTANT, AS OTHERWISE IT DOES NOT APPLY ). If you are over 65 and sell your RESIDENCIA HABITUAL then you become tax exempt for Capital Gains. There is no tax exemption of the town hall plusvalue tax.
If you are you a non resident owner in Spain?
You have an obligation to present an annual private use tax to the Spanish tax authorities. This tax is based on the catastral value of your property set by your local Town Hall. We can recommend an accountant to prepare and present this for you each year with the tax being charged directly to your Spanish bank account.
They will require a copy of the deeds, copy of the IBI (local rates) bill from the Town Hall, a copy of your NIE Certificates, copy of passport, full IBAn of your bank account and your full home address and contact details. For further details please email us direct: email@example.com
The property must be handed over with the actual “boletin” which is a certificate of electrics to prove the installation conforms to the actual legislation and can be changed over to new owners. If the installation is older than 20 years a new boletin is required.
Certificate of Energy Performance
This has been compulsory in Spain since 2013 and is something we can arrange when you put your property on the market. You are unable to sell your property without this certificate. The cost will be around 150 – 300 euros as it depends on the square meters of the build.
Please call us on 0034 928 590 928 or email firstname.lastname@example.org for an appointment to place your property on our listings.