It is barely three weeks since the Spanish Government announced they were slashing the Sales Tax on new properties in half from 8% to 4% and we are already seeing announcements from other parties adding their own incentives to stimulate property sales.
The Government’s tax cut on new properties announcement was unexpected and at the same time long overdue and last week we were made aware of two instances where the Developers on certain projects have said that they will pay the other 4% which means an incredible saving of 8% to the purchaser.
This combined with the fact that property prices are at an all time low means that once again interest is being rekindled in the Spanish property market.
It is overseas buyers looking for property bargains who are once again the driving force in the market, according to spanish real estate analysts. Especially british buyers are hungry for Spanish property and Spain as their top overseas destination.
Many questions have come to us on how this tax cut on new properties for sale in Costa del Sol is working, so we got the the exact terms of the law and to which properties and payments for properties the VAT from 8% to 4% may be applied.
Spain has announced plans to try to tackle the problems facing its housing market and cuts taxes in half to increase sales.
Property in Spain as popular as ever in 2011 – Property in Costa del Sol & Costa Blanca boost as foreign property sales rises!
The Malaga province increased property sales by 26.2 per cent compared to last years figures.
With more than 15 years experience in Spain, we are property experts and we offer properties which represent exceptional value for money!
Good news: after two long years of holding its breath, the property market can now breathe deeply again. There are indications that things are picking up, albeit in a rather timid fashion.