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Property Tax Tips
  • Acquisition of Primary Residence

Reduced VAT rates apply on the acquisition and/or construction of residences for use as the primary and permanent place of residence. Such conditions vary each year so it is better to consult with us before signing up the property purchase agreement.

 

  • Repairs
  • New Residences

Renovation and repair of private residences is carried at the reduced rate of VAT of 5%

 

  • Old Residences

The reduced rate of 5% applies for renovation and repair of old private residences subject to the following conditions:

  • a period of at least three years has elapsed from the date of the first use of the residence
  • residence is used as the place of residence of vulnerable groups, or
  • residence is in remote areas

 

  • Transfer Fees

Are currently reduced by 50% until further notice by the government.

Do not apply if the transaction is subject to VAT

Transfer fees tax brackets:

  • from parents to children – Nil
  • between spouses – 0,1%
  • between third degree relatives – 0,1%
  • to trustees €50

 

  • VAT 

VAT does not apply on resales whilst a 19% VAT is charged on new properties.