Property transfer tax for first-time home buyers will increase from € 440.000 to € 510.000 in 2024. Homebuyers aged 18 to 35 who buy their first property worth up to € 510.000 can benefit from an exemption of the 2% transfer tax in 2024.
Homebuyers aged 18 to 35 who buy their first property worth up to € 440.000 can benefit from an exemption of the 2% transfer tax in 2023.
You need fewer savings to close your mortgage, and you can keep more of your savings in your pocket. The property transfer tax (overdrachtsbelasting) is 2% of the purchase price. If you buy a residential property in the Netherlands, you must pay 2 percent of the property price on tax.
For example, if you buy a home worth € 440.000, you must pay the transfer fee of € 8.000. First-time home buyers who are under 35 years and buy a property for less than € 440.000 will save € 8.800. If you can benefit from this exemption, you need fewer savings to close your mortgage.
The property transfer tax for buy-to-let investors is 10.4%.
The housing shortage is an issue in some Dutch cities. By reducing the costs for first-time buyers and increasing the tax for investors, the Dutch government tries to create a more level playing field for first-time homebuyers in the Netherlands. Simultaneously, individuals who invest in real estate pay a higher tax fee.
The Dutch government believes that investors and first-time homebuyers compete for properties that belong to the same price range. Hence, the government aims to encourage and help starters to become homeowners in the Netherlands.
|Type of buyer||Residential||Other real estate|
|First-time buyers (age between 18-35 years)||0%||10.4%|
|Moving homes (when you buy your second property)||2%||10.4%|
For example, if you plan to buy a commercial property, a holiday home, or a buy-to-let property, you pay a transfer tax of 10.4%. If you decide to move houses, you pay a transfer tax of 2 % for the second residential property.
When you buy a home in the Netherlands, you must pay closing fees, including a transfer tax, the cost for a bank guarantee, real estate agent, notary, translator, valuation report, bank guarantee, and mortgage advice.
Mortgage closing fees are tax-deductible in the Netherlands. You can receive a tax return on the valuation report, mortgage brokerage, and advisory and mortgage-related fees at the notary (deed of mortgage and public land records).
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