The law of fiscal and administrative measures that accompanies the budgets of the Xunta for next year will introduce a 75% bonus on the tax on documented legal acts for the purchase, construction and rehabilitation of residential buildings intended for rental.
Another new feature incorporates a reduction in property transfer taxes -which is currently 8%– in premises dedicated to housing, in a series of cases.
These are the two new measures that were announced on Thursday by the councilor of Facenda, Miguel Corgos, after approval by the Council of the Xunta del draft community budget for 2025 and what is called the Law of Accompaniment.
The public accounts also include a first item of two million euros for the bonus with which the Galician government wants promote the emancipation of young peopleas announced by the Galician President, Alfonso Rueda, in Parliament.
Based on this, one of the new features that the Regional Executive plans to introduce for next year concerns residential buildings intended for rental. Concretely, you will benefit from a 75% bonus on documented legal acts purchase, construction and rehabilitation of these buildings.
Natural and legal persons in the “business sector” can benefit from this measure, according to the terms specified by the department. For that, as requirementsthe entire accommodation must be rented, it cannot be rented to relatives up to and including the third degree, it must be rented for at least 10 years and the contracts must be long-term.
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The bonus would be lost for several reasons: if the accommodation is not rented for a period of two yearsif within a period of less than 10 years one of the accommodations is transferred to third parties, if the contract is signed for a period of less than four months and if reception services are added.
The second measure is that which concerns real estate transfer taxes, which are currently 8% and which will be reduced, first of all, for a person who is going to dedicate the premises as their habitual residence and that it does not exceed the stipulated asset limits. In this case, it would go from 8% to 7%.
For priority groups, according to the Department of Facenda, this reduction would reach reduced rates from 6% to 3%. Concretely, the 3% reductions would be intended for people with disabilities, victims of gender-based violence, those under 36 or large families. The deduction can reach up to 100% in sparsely populated areas.
Corgos and Rueda recalled the reduction already announced so that the first 25,000 euros of inheritances between brothers, uncles, nephews, fathers-in-law, brothers-in-law, sons-in-law and daughters-in-law don’t pay anything. In this sense, the Xunta estimates that two out of three inheritances will not be taxed.
