Up to 2008 all property owners in Spain were liable for two separate taxes every year, income tax and wealth tax. The good news is that the Wealth tax has been suppressed this year and therefore from 2009 on, both residents and non residents just have to pay income tax. In effect, any non-resident individual with a property in his/her name is subject to an Income Tax of 24% of 2 percent (or 1.1% if the cadastral value has been revised after 1994) of the valor catastral, the official rated value of their property.
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Annual taxes Spain
July 1, 2009 · Leave a Comment
→ Leave a CommentCategories: Costa del Sol property · costa del sol information
Tagged: Costa del Sol blog, legal advice, spanish taxes, spanish will, taxes
From illegal to legal on the Costa del Sol
June 27, 2009 · Leave a Comment
As many of you undoubtedly know, there are a few illegally built properties in Spain. If any of you saw that show recently Spain, Paradise lost you will know that some owners face demolition orders and are hoping and/or fighting that there property will be safe.
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Tagged: Costa del Sol, illegal build, Marbella, marbella property, Mijas, mijas property
Bank repossessions Costa del Sol
June 10, 2009 · 1 Comment
I have recently been contemplating whether to post this article or not regarding repossessions. With the market being the way it is (or at least perceived) repossessions in Spain still seems to be a popular topic for those hoping to find rock bottom properties. As I have previously mentioned in previous repossession related articles, a bank repossession in Spain does not in most cases offer particularly interesting discounts/prices nor do they offer the locations that most people are searching for.
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Tagged: bank repossessions, bank repossessions costa del sol, banks, Costa del Sol, repossessed property, repossessions, repossessions costa del sol, spain repossessions
Spanish property mortgage relief
May 20, 2009 · Leave a Comment
Recently the Prime Minister of Spain, José Luis Rodríguez Zapatero, announced that by 2011 mortgage relief for those earning more than 24,000€ will be stopped. After originally reading the article Zapatero and Common sense I have had time to do a bit of research on the topic and Spain does not seem to be alone in this ‘gesture’, with countries like Ireland having implemented similar measures recently.
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Tagged: Costa del Sol, Costa del Sol blog, developer, mortgages, property for sale, real estate spain, spain, spanish economy
Tenants and repossessed properties
May 14, 2009 · 3 Comments
A few days ago, I was contacted by a reader who asked me for some advice. The person in question has been kind enough to let me post here her situation. We both thought it might be useful for anyone else who might be caught in a similar situation.
Hi Andrew, I have read your blog with interest and learnt a lot!! Thank you. I wonder if you could advise me on something. I have been renting a property on the Costa del Sol for 4 years.
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→ 3 CommentsCategories: Costa del Sol property
Tagged: bank repossessions, Costa del Sol blog, costa del sol rental, rental law, repossessed property, spanish law
Costa del Despair? Really?
April 30, 2009 · 1 Comment
It looks like the media, in this case the mail are trying to label the Costa del Sol with a new nickname. Previously known as the Costa del Crime, followed by the Costa del Golf, now the Mail is trying for the Costa del Despair. Quite catchy but not as impressive at the Costa da Morte, Coast of death (official name) that is found in the north of Spain.
→ 1 CommentCategories: Costa del Sol News · Costa del Sol property
Tagged: andalucia, Costa del Sol, Costa del Sol blog, Costa del Sol Real Estate, economic crisis, property, property for sale, sterling
Prices down 11.5% on the Costas
April 17, 2009 · Leave a Comment
Properties along Spains Mediterreanan coast (Costa Brava, Costa Dorada, Costa del Azahar, Costa Blanca, Costa Cálida, Costa de Almeria, Costa de Granada, Costa del Sol and Costa de la Luz) are down 11.5% in March 2009 year-on-year. But before anyone complains to me about ‘doom & gloom’, I am actually quite pleased about this information!
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Tagged: Costa del Sol, Costa del Sol blog, costa del sol property for sale, Costa del Sol Real Estate, economic crisis, fuengirola property, spain, spanish economy
Costa del Sol Business Directory
April 10, 2009 · Leave a Comment
I have just created a new site, the Costa del Sol business Directory. As the name implies this is going a business directory for businesses on the Costa del Sol. I have only just started this blog, so it is not exactly jam packed with businesses yet, but if any of you do have a business you wish to advertise or wish to recommend, please email costadelsolbusiness@gmail.com.
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Tagged: business, business directory, Costa del Sol, Costa del Sol blog, costa del sol business
Spanish repossession and distressed property
April 7, 2009 · Leave a Comment
So again I thought I would bring up those popular search terms, bank repossessions and distressed sales either in Spain or the Costa del Sol. On the side by of my blog you will notice a category titled ‘top posts’, and lo & behold Costa del Sol Bank repossessions and Bargain distressed property Costa del Sol come in second and third place for popularity.
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Tagged: bank repossessions, Costa del Sol, Costa del Sol blog, distressed property Costa del Sol, Distressed property in spain, Fuengirola apartment for sale, repossessions costa del sol
Spain the main property destination
April 6, 2009 · Leave a Comment
Or at least according to an article I read on primelocation recently. It appears that their site has seen has seen as 72% increase for international property in January (month on month) and had more than a million searches for international property in February.
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Tagged: Costa del Sol property, international property, spanish property, top 10
Decreasing Euribor
April 2, 2009 · 1 Comment
For those of you with mortgages in Spain, I thought you could you a bit of good news. The Euribor, the rate normally used to calculate mortgages in Spain, has fallen drastically to its lowest rate ever! It currently stands at 1.909%. So many of you who have been feeling over the last year should soon start to see a substantial dorp in repayments.
→ 1 CommentCategories: Costa del Sol News · Costa del Sol property
Tagged: Costa del Sol, Distressed property in spain, euribor, property mortages, spanish banks
Forex market updates
April 2, 2009 · Leave a Comment
Just a quick update on the Forex reports. As this information is being updated daily, I have decided to start posting the reports on a separate blog.
That way those looking at currency exchanges can go to that blog while those looking at property related articles can stay here So for market reports go to Currency Market Reports
Regards Andrew Belles
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Tagged: currency exchange, currency market, currency trading, dollar, euro, financial market, foreign exchange, forex, sterling
Forex market report 01/04/09
April 1, 2009 · 3 Comments
Dollar makes gains on safe haven status
Sterling pushes upwards against the euro
Single currency under pressure against majors—ECB expected to cut rate
Commodity currencies post large gains
G20 meeting in London
→ 3 CommentsCategories: Financial services
Tagged: currency exchange, currency market, currency trading, dollar, euro, financial market, foreign exchange, sterling
Forex market report 31/03/09
March 31, 2009 · 1 Comment
- Euro weakens on ECB members comments & weak economic data
- Sterling makes gains against majors on positive UK data
- Equity markets make losses over 3% but dollar still weakens
- US Government moves to overhaul GM, Chrysler dragging the dollar down
- Ireland’s economy losses coveted AAA rating
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Tagged: currency exchange, currency market, currency trading, dollar, euro, financial market, foreign exchange, sterling
Forex market report 27/03/09
March 27, 2009 · 1 Comment
- Sterling trades lower against the Euro
- Survey shows people want end to the public spending boom in UK
- The European Central Bank likely to cut interest rates next week
- The euro remained inside its recent tight ranges against the USD
- The “city” prepares for G20 summit next week
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Tagged: currency exchange, currency market, currency trading, dollar, euro, financial market, foreign exchange, sterling
Capital gains on your property in Spain
March 26, 2009 · Leave a Comment
When selling your property in Spain you may be subject to a Capital Gains Tax (CGT). This tax is on any profit the Spanish government perceives that you have made, which even in the present climate is an issue that many have to watch out for. Currently the rate is set at 18% and can make a serious dent in anyone earnings.
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Tagged: capital gains tax, CGT, Costa del Sol, property for sale, real estate, spanish property
Forex market report 26/03/09
March 26, 2009 · 1 Comment
- Volatile day in currency markets blamed on Geithner comments
- Sterling sees losses posted against both dollar and euro
- Dollar sees huge swings on confusion of global reserve currency status
- Euro pulls back some losses despite weak economic data from Germany
- IMF rescues Romania with €20bn and Serbia handed €4bn.
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Tagged: currency exchange, currency market, currency trading, dollar, euro, financial market, foreign exchange, sterling
Forex market report 25/03/09
March 25, 2009 · 3 Comments
- Sterling jumps higher in the foreign exchange markets
- UK inflation data proves stronger than expected
- US dollar recovers slightly as rally in equity markets halts
- Euro under pressure—possible interest rate cut by ECB next month
- Czech Republic joins East Europe’s falling dominoes
→ 3 CommentsCategories: Financial services
Tagged: currency exchange, currency market, currency trading, dollar, euro, financial market, foreign exchange, sterling
Forex market report 24/03/09
March 24, 2009 · 1 Comment
- US Treasury Secretary details proposals to deal with toxic assets
- Stock markets soar as risk sentiment retracts
- Yen and dollar sold off across the board
- Sterling sees gain on euro and US dollar
- New Zealand and Australian dollars continue to make gains
→ 1 CommentCategories: Financial services
Tagged: currency exchange, currency market, currency trading, dollar, euro, financial market, foreign exchange, sterling
