The registration tax and the recording tax are calculated as respectively 6% and 1% of the real estate purchase price. In the case of a land purchase where the home will be built subsequently, the registration and recording taxes are calculated based on the land purchase price.
If the real estate is purchased for personal use, each person is eligible to receive a tax credit on notarial deeds of €30.000, to be deducted from the registration and recording taxes owed.
For example:
If real estate is purchased for €400.000, the registration tax owed will be €28.000 (7% of €400.000). If the buyer still has an available tax credit, they need only pay €100. They will have a remaining tax credit of €2.000, applicable to a future purchase.
If a couple purchases real estate for €800.000, the registration and recording taxes owed will be:
€56.000 (7% of 800.000). If both still have an available tax credit, they need to pay only €100, and they will each have a remaining tax credit of
€2.000 (30.000-(56.000/2)), applicable to a future purchase.
