Do I have to pay tax on my holiday home in Spain?
Do I have to pay tax on my holiday home in Spain? Even if you do not rent out your property, there is a deemed income on any property you own which is for your own use. This applies to second homes, holiday homes and property you own in Spain as a non-resident. This is taxable at 19% of the taxable “income”.
Who is exempt from tax in Spain?
Exceptions for paying tax in Spain There're certain instances when you're exempt from declaring your taxes in Spain. Some of them include: If you only have one job and earn less than €22,000 a year. If you've multiple jobs and earn less than €14,000 a year.
What are the disadvantages of a holiday home?
When buying a vacation home, you'll find that mortgage requirements are stricter. You'll need a higher credit score and a larger down payment, and you can expect to face higher interest rates than for a primary residence. Utilities and maintenance are costly.