Spain and Italy are the European countries where it is cheaper to buy a single family home, according to estimates of the International Monetary Fund (IMF) and KBC Bank. Specifically, in Spain the average is 170,000 Euros, while in Italy it costs more than 150,000 Euros. Germany and the UK are the most expensive countries
The Spanish government has recently proposed a change to, and easing of, the red tape associated with obtaining a residence permit for non EU nationals. However the Spanish Foreign Minister, José Manuel García-Margallo, wants to use this as an angle to attract more foreign citizens from outside of Europe to buy a property in Spain
The Spanish government today approved the VAT increases in Spain to take effect as from 1st September 2012. The standard rate of 18% increases to 21%. The reduced rate of 8% rises to 10%. The super reduced rate of 4% remains unchanged. However, the purchase of a new property in Spain is currently governed by
In a special debate in parliament yesterday, the Spanish government has proposed and agreed to increase VAT (IVA) in Spain. VAT currently at 18% will rise to 21%, the middle rate of 8% will change to 10%, but the super reduced rate of 4% will remain the same, which covers all products considered as basic
The Spanish government has introduced more measures to try to stimulate sales of second homes. Buying a second home or investment property in Spain between now and the end of the year will allow you to benefit from a 50% reduction in capital gains taxes when you come to sell, thanks to a new measure
Foreign investment in Spanish real estate rose by 27 percent in 2011 It’s the largest increase since 2008. Falling house prices in Spain have been undoubtedly the main reason for this positive turnaround. Prices have dropped between 25 and 30 percent since 2007. Foreigners invested 4.748 million Euros in buying property in Spain in 2011,
The Spanish government has decided to revert back to the original way in which a foreigner may apply for an NIE number in Spain. Last December, the government ruled that all applications have to be made in person, and can no longer be applied for by a legal representative with a notarized power of attorney.