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March 12, 2013We all know that during times of crisis the property market is a buyers market and it's an unfortunate time for those who have to sell. Most think that potential buyers and investors focus on searching in the second-hand market, because they feel that with all the bank repossessions and distressed properties, it is where they are going to find the best bargains. But, property hunters that are not considering new property are missing out.
January 12, 2012The PP party announced at the last council of ministers to extend the 4% VAT sales tax discount on the purchase of new Spanish property for a further 12 months.
August 23, 2011Spanish property sales tax has been reduced from 8% to 4% as an "exceptional and temporary measure" which takes effect from 20th August 2011 until 31st December 2011. With this and the incredible price reductions from builders, now is a great opportunity for property buyers to consider putting new homes at the top of their list of requirements when searching for a home.
July 19, 2011One of the more successful agents in the UK overseas property market says he is now working three times as hard as last year for the same results. There are pockets of success, but times seem to be tough for many agents – especially those selling lifestyle property without the cash flow cushion of a successful rentals business.
June 23, 2011Spanish banks are offering high interest rates plus free iPads, TVs and Blu-ray recorders which is causing deep concern in the government. A call to an end to teh fierce competition may be called, as there is fear that it may cause damage to the bottom line of Spain's banks, especially as lots are still recovering from the bad loans and an exploded property bubble. A large selection of gifts are being offered to customers to encourage them to transfer their accounts. Such items as Ipads, flat-screen tv's, video game consoldes and blue ray players... This has alwways happened in Spain, even though, now the battle between banks is intensifying. The authorities are concerned about astronomical rates on offer for new deposit accounts: 3.5 percent, 4.0 percent, even 4.75 percent a year. Many other European countries offer no such returns, nor gifts. This generosity "has introduced a new element of pressure on the financial results of Spanish credit entities," still recovering from the collapse of a property bubble in 2008, said the Bank of Spain
May 30, 2011A rise in the number of foreign visitors to Spain picked up steam in April as arrivals from its two main markets, Britain and Germany, posted doubLe-digit growth, official data showed Monday.
May 17, 2011Spain's economy expanded by 0.3 percent in the first quarter of 2011, picking up speed from the tail-end of last year, preliminary official data showed on Friday.
March 30, 20112015 is the expected opening date for the Paramount theme park in Murcia. the masterplan was unveiled officially last week. The location of the Paramount theme park is going to be on the border of Mazarron and Alhama de Murcia. 158 hectares of theme park situated about 20 minutes from the beach and marina resort of Puerto de Mazarron. The plan shows how they will be splitting the park into different zones creating a them for each one. amongst these will be: Star Trek, Titanic, Mission impossible and a much large "Lifestyle centre" with two five-star hotels, three four star hotels and several more three star resorts. There will also be a shoppingmall with lots of restaurants, bars, clubs, a very large conference centre and an open-auditorium with a capacity to host 15,000 people.
March 1, 2011In two weeks´ time Spanish electricity companies will give the tax authorities a list showing the electricity consumption of all their clients so that they can find out which properties are actually empty, and which properties are leased out to tenants even though the rental income is not declared.
January 24, 2011The Spanish government is set to launch a sweeping restructuring of its troubled regional savings banks in an attempt to reassure global markets it can sort out the problems caused by its troubled property sector.