Does the 9% rate apply to new-build apartments too?

No. New builds in Spain are charged 10% VAT ( IVA ) plus 1.5% stamp duty ( AJD ) instead of ITP. The Valencia cut only affects resale properties. If you're buying a new-build off-plan in Calpe or Javea, your tax bill doesn't change. See our new build process guide for the full picture.

If I buy before 1 June 2026, do I really pay the full 10%?

Yes. ITP is paid based on the date the public deed is signed in front of the notary. Sign on 31 May 2026 and you pay 10%. Sign on 1 June 2026 and you pay 9%. There's no transitional rule and no refund for buyers who completed earlier.

Do all Spanish regions charge the same ITP?

No, each region sets its own rate. Madrid is 6%, Andalucía is 8%, Valencia becomes 9% from June 2026, and Catalonia is 11%. So Valencia is competitive after the cut, but not the cheapest. The rate in your contract follows where the property is located, not where you live.

Do foreign buyers pay a higher rate?

No. ITP is the same rate for everyone: Spanish residents, EU citizens, and non-EU buyers all pay the same percentage. What's different for foreign buyers is the paperwork: you'll need an NIE number, possibly a Spanish bank account, and sometimes a power of attorney if you can't be present at signing. The tax itself doesn't discriminate.

Can I avoid ITP somehow?

Not legally on a standard resale purchase. ITP is mandatory. The only ways to not pay it are buying a new build (you pay VAT and AJD instead) or inheriting the property (different tax regime). Schemes that promise to reduce it through under-declared prices are how buyers end up with surcharges and tax inspections years later. Don't do it.

Valencia Tax Cut

Valencia Property Transfer Tax Drops to 9% in June 2026

Valencia cuts property transfer tax (ITP) from 10% to 9% on resale homes from 1 June 2026. See your savings and whether to wait or buy now.

Sea view of the Ifach rock in Calpe on the Costa Blanca — Calpe, Costa Blanca North

From 1 June 2026, anyone buying a resale property in the Valencian Community pays 9% property transfer tax (ITP) instead of 10%. That's a real cut on a real cost, but it only applies to second-hand homes, and it isn't the whole story.

ITP (Impuesto sobre Transmisiones Patrimoniales) is the tax you pay when you buy a resale home in Spain. The seller doesn't pay it. The government doesn't add it to the listed price. It's on you, and in Valencia it's been 10% for years.

From June 2026 the rate becomes 9%. The change is regional: each Spanish region sets its own ITP, and Valencia is the one moving. If you're buying in Alicante, Javea, Calpe, Denia, Moraira, Torrevieja, Orihuela Costa, or anywhere else in the province, this is the rate you'll pay.

One thing to be clear about up front: this applies to resale only. New builds are taxed differently (more on that further down), and the cut doesn't touch them.

10% → 9%

ITP rate in Valencia

1 June 2026

Effective date

Resale only

New builds excluded

Buyer pays

Not the seller

A 1 percentage point cut sounds small until you see the numbers. ITP is paid on the full purchase price, so the saving scales directly with how much you spend.

Purchase price	ITP at 10%	ITP at 9%	You save
€250,000	€25,000	€22,500	€2,500
€400,000	€40,000	€36,000	€4,000
€600,000	€60,000	€54,000	€6,000
€1,000,000	€100,000	€90,000	€10,000

ITP on a resale property in Valencia: before and after 1 June 2026

For most first-time buyers on the Costa Blanca, the typical purchase sits between €250,000 and €450,000. That's €2,500–€4,500 back in your pocket, roughly enough to cover the lawyer, the notary, and the property registration with money left over.

What doesn't change is the tax base. ITP is still applied to the purchase price (or the regional reference value, whichever is higher). If the cadastral office values the property above what you paid, you'll be taxed on that higher figure, just at 9% instead of 10%.

Buyer reviewing property cost calculations on a tablet — Run the numbers on your specific price before committing to a timeline

This is the question every buyer in Valencia is asking right now. The honest answer: it depends on what you'd be doing in the meantime, and what you think the market will do.

Reasons to wait

Direct tax saving of 1% of the purchase price

More time to build cash reserves and arrange paperwork

Less pressure to rush a decision you'll live with for years

More resale stock typically comes to market in spring

Reasons not to wait

Costa Blanca prices are still trending up; a 2% rise on €400k wipes out twice the tax saving

Mortgage rates can move against you between now and June

The property you actually want may sell to someone else

If you're relocating, you lose months of living in Spain

Run the simple comparison on your own numbers. If you're looking at a €400,000 home, the ITP cut saves you €4,000. If asking prices in your target town rise 2% over six months, that's €8,000 added to the price. You'd be €4,000 worse off, not better.

Where waiting genuinely makes sense: you haven't found the right property yet, you'd be buying somewhere with flat or falling prices, or you still need months to get your finances and first-time buyer paperwork in order. Where it doesn't: you've already found the home, the seller is motivated now, and your mortgage offer is on the table.

A 1% tax cut is not a reason to chase the market. It's a small, welcome bonus if your timeline already lands you in June or later.

The biggest mistake first-time buyers make in Spain is treating ITP as the only buying cost. It's the largest single line, but it's not even two-thirds of what you'll actually pay on top of the purchase price.

Cost	Typical range	Notes
ITP (transfer tax)	9% from June 2026	Was 10%; resale only
Notary fees	0.5–1%	Set by official fee scale
Property registration	0.1–0.3%	Land registry filing
Lawyer fees	0.5–1%	Independent legal review
Property valuation	0.1–0.3%	Needed if you take a mortgage
Mortgage setup costs	0.5–1.5%	Only if you finance the purchase
Insurance and misc	0.2–0.5%	Home insurance, NIE, banking

Total cost of buying a resale property in Valencia (rough percentages of purchase price)

Total: roughly 12% if you pay cash, 13–14% if you take a mortgage. On a €400,000 home you should budget around €48,000–€56,000 in extra costs on top of the price tag.

The June 2026 ITP cut shaves about 1 percentage point off that total. Helpful, not transformative. For a full breakdown of every cost, see our guide to buying costs and taxes in Spain.