Doctrine by topic · DGT Observatory

Reinvested Amount: DGT doctrinal evolution

How the DGT's position on this topic has evolved, and the rulings it rests on.

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How the DGT's position has evolved

Settled doctrine High confidence 23 rulings · 2014–2026

Current position

The exemption requires that both the transferred and the acquired property be primary residences. The reinvested amount comprises the price and acquisition costs of the new home, including both own funds and external financing. It is not mandatory that the funds used be the same ones obtained from the sale, given the fungibility of money. The acquisition must take place within a period of two years before or after the transfer.

The DGT's position has moved from a restrictive criterion in 2014, where only the amount used to reduce debt was considered reinvested if the property was already fully paid, to a consolidated criterion of fungibility. Rulings from 2022 onwards confirm that the reinvested amount is the total acquisition value, regardless of the source of financing.

Turning points

  1. V0785-22

    Establishes that the reinvested amount is the total acquisition value of the new home, regardless of whether it is financed with own funds or a mortgage loan.

Analysis based on 20 of 23 rulings with a stated position. Updated 24 September 2026.

Rulings on this topic

23
V1251-26 25 May 2026

Reinvestment exemption applicable for home construction if timelines met

SG de Impuestos sobre la Renta de las Personas Físicas
exención por reinversiónvivienda habitualganancia patrimonialconstrucción de viviendaimporte reinvertido LIRPF — Ley 35/2006 del IRPF art. 38RIRPF — RD 439/2007, Reglamento del IRPF art. 41
Affects CompanyExpat · Non-residentIndividual
V1162-26 20 May 2026

Rehabilitation works may qualify as reinvestment in habitual residence

SG de Impuestos sobre la Renta de las Personas Físicas
exención por reinversiónvivienda habitualrehabilitación de viviendaganancia patrimonialimporte reinvertido LIRPF — Ley 35/2006 del IRPF art. 38.1LIRPF — Ley 35/2006 del IRPF art. 49
Affects CompanyExpat · Non-residentIndividual
V0517-26 5 Mar 2026

Funds from loan for new primary residence may be considered reinvested

SG de Impuestos sobre la Renta de las Personas Físicas
exención por reinversiónvivienda habitualganancia patrimonialfinanciación ajenaimporte reinvertido LIRPF — Ley 35/2006 del IRPF art. 38.1LIRPF — Ley 35/2006 del IRPF art. 35
Affects CompanyExpat · Non-residentIndividual
V2151-24 9 Oct 2024

Mortgage payments for new home construction may qualify as reinvested amounts

SG de Impuestos sobre la Renta de las Personas Físicas
exención por reinversiónvivienda habitualganancia patrimonialconstrucción de viviendaimporte reinvertido LIRPF — Ley 35/2006 del IRPF art. 38RIRPF — RD 439/2007, Reglamento del IRPF art. 41
Affects CompanyExpat · Non-residentIndividual

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