The left-wing parties and the PP have reached an agreement during the end of the parliamentary processing of the 2023 Autonomous Community Budget offering tax reductions to living donations of real estate property in favor of children or descendants that will range between 60 and 95 percent, provided that it is used as their primary residence.
Requirements and restrictions of living donations of real estate property
The value of the property may not exceed 270,000 euros, it must be the main residence for at least three years and it is not permitted to sell the property. In addition, individual income must be less than €33,000 or, in case it is joint, the limit will be €52,800.
This reduction can reach up to 95 percent if a series of requirements are met: being under 36 years of age, having a degree of disability or belonging to a large or single-parent family.
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