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
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.
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
With just one month remaining before the VAT on the purchase of a New property in Spain increases from the current 4% to 10% on 1st January 2013, there is still time to benefit and save money. In order to save paying this increase you must complete the purchase of a new property by signing
Based on figures from the previous year, the Spanish Notary Association claim that Spanish house prices fell by 16.5% in August, down to just 1.176 €/m2, with apartments dropping by 19.7%, and houses by 8.2%. New properties came down by an average of 20.4% whilst resales dropped by 24.2%. Again, according to the same source,