CGT on principal home sales ?

[Fraidycat]

Many European countries tax the profit on the sale of your primary residence, infact there is no such concept as primary residence, there is just taxes on all property you own, and sell.

Do these European countries have stamp duty on buying?

The UK way is tax buyers and not sellers. We could switch that, but then abolish stamp duty. So not sure how much extra revenue it would generate (if can claim against inflation and renovations).

[AtW]

Do these European countries have stamp duty on buying?

The UK way is tax buyers and not sellers. We could switch that, but then abolish stamp duty. So not sure how much extra revenue it would generate (if can claim against inflation and renovations).

No, the way it's going to work here is that both sides will be taxed with same (or lower - means tested) tulip services on offer

HTH

[DealorNoDeal]

Do these European countries have stamp duty on buying?

In Spain, buying costs (taxes etc) are much higher than here at around 10%.

[d000hg]

Which makes property more affordable, so it's the direction the govt needs to move in. Profit belongs to the govt.

Why should you get wealthy just from owning a house? Rising house prices are a problem so if a profit tax was introduced, that would automatically stop prices rising so much.

I'm not advocating for it but it would be interesting. There would have to be some allowance on how long you had owned the place. And it would penalise people badly who renovated.

[AtW]

In Spain, buying costs (taxes etc) are much higher than here at around 10%.

But real estate how much cheaper?

What can one buy for say 250k EUR?

[sadkingbilly]

But real estate how much cheaper?

What can one buy for say 250k EUR?

https://www.bbc.co.uk/news/world-europe-63586271

[AtW]

https://www.bbc.co.uk/news/world-europe-63586271

That's whopping 260k EUR mate, please do check the original requirements...

[vetran]

In Spain, buying costs (taxes etc) are much higher than here at around 10%.

AYCOTBAC? its 10% on £1m.

[DealorNoDeal]

AYCOTBAC? its 10% on £1m.

If you can afford a £1m house then surely you can afford a decent accountant to get around it.