economia


House prices down 35% according to Economy Minister

House prices in Spain have fallen 35% according to the Economy Minister, Luis de Guindos, based upon figures since the crisis started.

The main criticism, claims De Guindos, is that the banks only lend to buyers of their own re-possessed properties in preference to those seeking properties from other sources such as general estate agents and developers.

De Guindos has introduced new reforms forcing the banks to make bigger write-downs to bring price down further. These reforms appear to be having an immediate effect as would be buyers are now offering on average 30% less on asking prices.

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Income tax, IBI and motorway tolls go up but electricity, IVA and phone line rental frozen

Income tax, IBI and motorway tolls go up but electricity, IVA and phone line rental frozen

THE start of 2012 will see income tax increase and pensions rise by one per cent, but electricity, gas bottles and telephone standing charges will be frozen.

Young people between 22 and 30 years of age can no longer claim the 210-euro benefit for buying a first home, but those currently in receipt of it will continue to be able to claim.

The tax reduction on a first home will be reintroduced, and IVA will not go up, but income tax will rise.

Civil servants’ salaries will be frozen, and mains gas will increase in price.

Bottled gas remains at 15.09 euros and landline standing charges via Telefónica will stay at 13.97 euros.

Toll fees on motorways will increase by up to 3.2 per cent.

The percentage charged on land registry values for IBI, or asset tax, will rise, and the cost of postage stamps will increase by 2.86 per cent.

Rail travel will go up, but the exact figure has not been calculated so far.

Source: Income tax, IBI and motorway tolls go up but electricity, IVA and phone line rental frozen.

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