Partly — and this is a classic trap. Andalusia has effectively abolished its regional wealth tax (Impuesto sobre el Patrimonio) through a 100% rebate, so on that regional tax you pay nothing. But the national Solidarity Tax on Large Fortunes (Impuesto de Solidaridad de las Grandes Fortunas, ISGF) still applies to net wealth above 3 million euros — and it was extended indefinitely from 2025. A non-resident benefits from a 700,000 euro allowance on Spanish assets. Many sources say 'no wealth tax in Andalusia' without mentioning the national ISGF; confirm your position with a Spanish tax adviser.
Two taxes, not one
Spain has a regional wealth tax and a separate national solidarity tax, and the Marbella confusion comes from conflating them. The regional Impuesto sobre el Patrimonio is set by each autonomous community; Andalusia applies a 100% bonificación, so the regional tax is reduced to zero. That is the true part of 'Andalusia has no wealth tax'.
The missing part is the national Impuesto de Solidaridad de las Grandes Fortunas (ISGF). It was introduced for 2022–2023, has been extended, and from 2025 is in force indefinitely. Crucially it is a state tax that regional rebates cannot cancel: where a community zeroes its own wealth tax, the ISGF steps in on the largest fortunes, so the state — not the region — collects.
When it actually bites, and the non-resident allowance
The ISGF targets net wealth above 3 million euros, on a progressive scale, with the first tranche starting at that 3 million threshold. A non-resident is taxable on Spanish-situated net wealth only (chiefly the Marbella property net of secured debt) and benefits from a 700,000 euro tax-free allowance, like Spanish taxpayers. So a single 4 million euro villa held with little debt can bring a non-resident into ISGF scope even though the Andalusian regional tax is nil.
Because the interaction between the zeroed regional tax, the national ISGF, deductible debt and the 700,000 euro allowance is exactly where mistakes happen, treat any blanket 'no wealth tax on the Costa del Sol' claim with caution and have your net taxable base confirmed by a Spanish asesor fiscal before you buy at this level.
Sources
Primary and expert sources behind this answer:
- Junta de Andalucía — Regional taxes (ITP, Patrimonio bonification, tourist-rental VUT/NRUA) ↗
- Agencia Tributaria — Spanish tax authority (IRNR, imputed income, Modelo 210/211, ISGF) ↗
This page is general information, not legal or tax advice. Spanish property tax, residency and letting rules are complex, regional and change frequently; every figure and rule here must be confirmed with a Spanish abogado (lawyer), a fiscal adviser (asesor fiscal) or a notary for your specific situation before you act.
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