The general rate of VAT on the purchase of a new property is Spain is currently 10% of the purchase price, 4% in the case of social housing, and is one of the lowest in Europe. During 2012, the overall rate was reduced for a short while to just 4% as a government incentive to
Since 1st January of this year, the IVA payable upon the purchase of a new property in Spain rose from 4% to 10%. However, there are two ways by which a purchaser can reduce this to between 7% and 8% by either purchasing a property through a Bank, or as a result of the property
If you still don’t know Axarquia, you have to. The ancient area, located east of Malaga, in the south of Spain, is considered the place with the best weather in all Europe. Its sub-tropical temperatures, the always available beaches that spread through 25 kilometers and the pretty orange trees that are Axarquia’s hallmark make it
LPG Spain was recently approached by the web site, Spain Made Simple, asking us our opinion on the current state of the Spanish property market for their newsletter. We were more than happy to oblige. Here are their questions along with our answers: Q. Are property prices in Spain going down, up or stabilizing? A.
The great grandson of the founder of the business magazine Forbes, Miguel Forbes, considers it a good time for foreign investors to bet on the Spanish real estate market. “Property valuations and stocks are low, it’s time to buy,” he said. In a presentation of Forbes magazine in Spain, the founder’s great grandson says he
A total of 38,312 foreign, non-resident nationals in Spain bought a home last year. This represents an increase of 28.4% compared to 2011, according to the Notary Association. 42% of the transactions closed at a price above 160,000 Euros. By region, Murcia and Andalusia are the two regions where the number of buyers has fallen,
The price of housing in Spain has fallen by 15.2% in the third quarter of 2012 compared to the same period last year, which means a decrease of eight tenths, as provided by the price index from the National Institute of Statistics. The decline in the price of new houses has fallen by 13.6%, eight
The Spanish government is proposing to abolish a tax that is currently levied on foreign companies owning property in Spain in order to attract more investment from abroad. The tax currently stands at 3pc per annum of the company’s holdings in Spain. The change in the law, currently going though the Senate, is expected to