If you buy a dwelling from a promoter, you pay IVA (VAT).
If you buy a property from a private person, you pay ITP (Impuesto de Transmisiónes Patrimoniales - transfer tax on private assets).
The IVA is 7% for buying a dwelling, but can be 16% on buying a plot, a garage or a swimming pool, separate from the purchase of the dwelling.
The ITP is 6 or usually the 7%.
The tax is always calculated on the value declared in the public title deed (escritura publica). In addition to the tax, you must also pay notary fees and registration costs (around 3%). Normally, it is the buyer both paying the tax and costs.
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