CSN News has good news for Valencia home buyers as the property transfer taxes have been reduced.

Home buyers in Valencian Community can save money after the regional government announced a 10% reduction in property transfer taxes.

Carlos Mazon said that the Valencian President, who was visiting a social housing development in Alicante City last Friday, would make this cut available to everyone.

He stated that “the Valencian Community no longer has the highest property tax in Spain”.

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The tax is a universal charge on the sale price of any property.

A budget amendment for 2025 will reduce the new rate from 10% to just 9%.

Carlos Mazon said that the new discount is on top of those offered last year to young people and vulnerable group members.

The transfer tax has been reduced by 25% for younger buyers and up to 8% in other cases, such as single-parent families or disabled people.

“21,000 young people have been able to buy their first home with a total saving of €27.8 million,” Mazon said.

He said that worked out as €1,000 and €2,000 saved per property.

Mazon promised to lower the stamp duty that is currently 1.5% on a home’s purchase price.