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Spanish property tax slashed
Tuesday, 23 August 2011 09:39

euro_houseThe Spanish government have announced that IVA taxes on new properties are to be slashed from 8% to 4% for the next 4 months, until 31 December, in an attempt to kick-start the property sector and encourage buyers to snap up the thousands of empty new builds throughout Spain.

In Murcia, there are around 30,000 empty properties (in total, Spain has an estimated 700,000 properties lying empty). Banks which had invested in the property boom of the past 10 years are now desperate to sell off their portfolios, and this saving (€8000 saved on a property of €200,000, for example), combined with vastly reduced property prices, is expected to stimulate what has recently been a slow market.

Non-new properties do not pay IVA, so are unaffected by the measure. This sector has been more active over the duration of the world-wide financial crisis as a result of the IVA-free status of purchases of 'second-hand' properties.
 

Murcia Villas SL for themselves and for the owner of the property whose agents they are give notice that:- (1) These particulars do not constitute any part of an offer or a contract. (2) All statements contained in these particulars are made without responsibility on the part of Murcia Villas SL. (3) None of the statements contained in these particulars are to be relied upon as a statement or representation of fact. (4) Any intending purchaser must satisfy himself/herself by inspection or otherwise as to the correctness of each of the statements contained in these particulars. (5) The owner does not make or give and neither do Murcia Villas SL nor any person in their employment has any authority to make or give any representation or warranty whatever in relation to this property. (6) Where every attempt has been made to ensure the accuracy of the details contained here, measurements of doors, windows, rooms and any other items are approximate and no responsibility is taken for any error, omission, or mis-statement. These details are for illustrative purposes only and should be used as such by any prospective purchaser. The services, systems and appliances shown have not been tested and no guarantee as to their operability or efficiency can be given. (7) Prices are quoted in euros, working with a conversion rate of 1.10euros to the pound, discrepancies may occur in prices for holiday accommodation due to currency fluctuations.