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Sell your property
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SELL YOUR PROPERTY
SELL YOUR PROPERTY
Several people all over Europe have now become aware of the prices going down on Gran Canaria, which means that our clients are purchasing a lot more objects than before and a lot faster. Therefor we need more properties, from Bahía Feliz to Mogán, in our portfolio.
Our clients are mainly Scandinavians, due to the fact that they are not affected by the world crisis in comparison to other European clients. Most of our Nordic clients don’t even need a mortgage to purchase their holiday home on Gran Canaria and they often buy within a very short period of time.
We offer you the following services:
Contact us today:
We offer you the following services:
- A web page in 4 languages.
- Brochures.
- We publish your property in different web pages in several European countries.
- We have collaboration partners here on Gran Canaria as well as in different countries in Europe.
- Notice to all the clients regarding to new properties.
Contact us today:
The costs of selling your property on Gran Canaria
- The vendor has to pay all kinds of property costs and liabilities up to the date of the transferal of the title deed; that is community fees, council taxes, water, electricity etc.
- If there is any mortgage on the property, the seller must contact the bank to get information about outstanding debts. He will then receive a certificate from the bank with his total debts and eventual costs to cancel the mortgage before the agreed repayment date.
- The vendor is required by law to pay 'PLUSVALIA' tax to the town hall; - tax on the increase of the property value, which is triggered by any change of ownership. The longer the ownership, the higher the tax amount.
- The vendor is obliged to pay capital gain tax to Spain. When the property is sold by a non-resident, one must withhold 3% of the purchase price (not the gain) and pay it to the Spanish tax authorities as an advanced payment of capital gain tax.
For residents, who can present a certificate from the tax authorities – stating that they are tax residents of Gran Canaria, there is no need for retention. Tax residents are normally located on the island and there is less risk that they attempt to escape their tax obligations.
The capital gain tax rate for non-residents is approximately 19%. The tax rate is applied on the benefits (if any) between the purchase amount in the new title deed and the purchase amount in the old title deed (when the seller himself bought the property), minus acquisition costs when he bought the property, minus fex renovation expenses that the tax authorities accept as a deduction (not all types are accepted) and other accepted deductions / tax reliefs.
If the 3% that is withheld equals an amount that is larger than the vendor was supposed to pay in capital gain tax, he may apply for returning the surplus from the tax authorities. If the amount is less, he is obliged to pay the difference.
A 'tax resident' on Gran Canaria will have to pay their capital gain tax based on the same principles, though the percentages are progressive depending on the size of the gain: 20%, 22% or 24%.
Every non-resident should inform themselves about their tax obligations in their home country. - In most cases it is agreed that the vendor pays the fee to the real estate agency that has assisted in the sales process when signing the title deed at the notary.
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