Spanish Economy forecast to grow

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Spain’s economic growth is set to pick up as domestic demand benefits from an improving labour market, easier financing conditions, greater confidence and lower oil prices. Net exports, by contrast, are expected to dampen growth, although this effect will gradually diminish this year and next, as Spain’s competitiveness improves. At the same time, the government deficit should continue to narrow. More..

Interanual drop in property prices for January

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The average price of a built property (whether new or used) fell 2.7% in January compared with the same month of 2014, according to the latest report by Spanish appraisal company TINSA More..

Light at the end of the tunnel for the Spanish property market?

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This year could be the year where all indicators on the health of the property market emerge from the red.

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The Energy Performance Certificates explained

As has been reported on a range of property news sites, Spain recently approved Royal Decree 235/2013. From the 1st of June if you intend to rent or sell your property you will require an energy rating certificate.

According to the legislation the energy rating certification will need to be present on all advertisements, offers and promotions relating to the sale or rental of any property.
Royal Decree (in Spanish)
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Declare overseas assets, warns Hacienda

In a little over a week’s time anyone who lives in Spain for more than 183 days per tax year – and is, therefore, almost always categorised as being a ‘tax resident of Spain’ – and who has overseas assets worth more than 50,000 euros in any single asset class, should have declared them to the Spanish tax authorities. More..

Andalusia may embargo some family homes subject to eviction orders

The Andalusian government on Tuesday approved a decree under which in the most extreme cases the homes of the most needy families subject to eviction proceedings initiated by banks will be embargoed by the region for a maximum of three years.

The Andalusian commissioner responsible for public works and housing, Elena Cortés, said the government also plans to impose fines of up to 9,000 euros on banks and real estate companies that leave empty homes that are fit to live in. More..

European Court rules Spanish mortgage law is abusive

The European Court of Justice on Thursday ruled that Spain’s mortgage law is incompatible with a European directive on abusive practices in consumer contracts, opening the door to more legal protection for households facing eviction from their family home.

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Spanish real estate attracting foreign investment

Spain plans to offer residency permits to foreigners who buy properties priced at more than 160,000 euros as part of its efforts to revive the real estate market and rid itself of hundreds of thousands of unsold properties. More..

Spanish banks suspend evictions

The Association of Spanish Banks (AEB) has this week issued a temporary freeze on all evictions of “vulnerable homeowners,” following protests after a woman killed herself on Friday moments before she was going to be evicted. It was the second suicide of a struggling mortgage holder in the last three weeks. More..

New home buyers nervous over looming tax increase

Thousands of property buyers are becoming anxiously nervous as the end of the year approaches. The reason is simple. If you are buying a new property, if you go to completion before the 31st of December you will only be paying 4% IVA (VAT) on the purchase, but if the purchase takes place in 2013 then the IVA rises to 10%. The difference of 1 day could lead to a 6% increase in the cost of purchase. More..

2 months of spanish property market expansion

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Will Spain’s bad bank work?

As I mentioned not too long ago in article, the Spanish Government would be setting up a ‘bad bank’ with the aim of buying up ‘toxic’ properties and land assets in the country in an attempt to clean up Spanish banks finances. More..

3 million properties to have rateable values increased

The increase in VAT and the expected increase in electricity bill will not be the only charges they will face some homes in the coming months. As stated in the draft State Budget presented by the government this weekend, the Ministry of Finance plans to review the assessed value of nearly three million homes in 2013, which in many cases will imply an additional tax burden to many families. Notifications of the Ministry are used by municipalities to prepare the local taxes. More..

Foreigners buying more in Spain

During the second quarter of 2012 the foreign market accounted for 9502 Spanish property purchases, which represents a 12 percent increase compared to the same period in 2011, and is the highest figure in the last 4 years when it stood at 11,130 property purchases.

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Foreign investment in Spanish property on the increase

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