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Super reduced sales tax on new homes is extended
January 12, 2012
The PP party announced at the last council of ministers to extend the 4% VAT sales tax discount on the purchase of new home for12 months.
Spanish NEW property tax cut
August 23, 2011
The Spanish government has reduced property sales tax 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.
So many time wasters
July 19, 2011
One 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.
Spanish banks offer high interest rates with perks
June 23, 2011
Spanish 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
Spain sees a rise in foreign visitors
May 30, 2011
A 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.
Spanish economy grows official 0.3% in first quarter
May 17, 2011
Spain'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.
Paramount Murcia opening date set for 2015
March 30, 2011
2015 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.
Tax authorities to flush out all undeclared rentals in two weeks´ time
March 01, 2011
In 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.
Spain bailing it out it's banks
January 24, 2011
The 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.
Developer debts are being written off
January 17, 2011
To quote an old banking proverb: “If you owe the bank thousands, then you have a problem. If you owe the bank millions, then the bank has a problem”.
This has never been more true to than in today’s credit-led economic downturn.
A profound illustration of this is a new move by several large Irish and UK banks to write off the debts of customers with the biggest credit hangovers – developers and professional investors.
Anglo Irish Bank (the bank at the centre of the Irish crisis) and Bank of Scotland have begun offering customers “golden goodbyes” in the hope they will be able to re-finance their debts with other lenders.
Both institutions are offering to write off as much as 25% of loans of their most indebted customers as well as waiving exit penalties.
The move makes sense for the banks as they are likely to receive less than 25 pence in the pound by reselling the debts on.