Owner’s expenses and taxes when selling a house or apartment in Menorca

Owner's Expenses and Taxes When Selling a House or Apartment in Menorca

Selling a home in Menorca involves a series of expenses and taxes that are important to know in order to correctly calculate the profitability of the transaction.

Below, we summarize the most important ones:

1. Income Tax (IRPF)

The seller must declare the capital gain obtained (sale price less purchase price and expenses) on their personal income tax.

The real estate agency fee invoice is fully deductible.

Tax rates range from 19% to 27% depending on the profit.

The following are exempt:

• Those over 65 who sell their primary residence.
• Those who reinvest the amount in another primary residence.

2. Municipal Capital Gains Tax

This tax is levied on the increase in the value of the land and is controlled by the City Council.

Since the last reform, you can choose the most favorable calculation method or even be exempt if there has been no profit.

3. Mortgage Cancellation

If the property is mortgaged, the seller will be responsible for the notary and registry cancellation fees, which typically range between €300 and €800 depending on the mortgage amount.

4. Documentation and Certificates

Before selling, the owner must have:

• Energy efficiency certificate
• Recent property tax receipts (up to date) and current utilities.
• A valid certificate of occupancy is recommended (although notaries in the Balearic Islands do not currently require it).

5. Real Estate Agency Fees

In Menorca, agency fees are typically between 3% and 5% of the sale price, plus VAT.

Having professionals guarantee a quick, secure sale at the best price.

To summarize, you should know that the main expenses and taxes when selling a house in Menorca are personal income tax, municipal capital gains tax, mortgage cancellation, and some certificates.

With the right advice, you can optimize every step and avoid unforeseen events.

At Som Menorca, we support you throughout the entire sales process with transparency, experience, and personalized attention.

Contact us if you want to sell your home safely and efficiently.