Spain Real Estate News

In case you missed it, the government has extended their "50% IVA" deal when buying a brand new home in Spain, for the entire course of 2012.

It means that instead of paying the normal 8% IVA (the equivalent of VAT in UK) you now pay 4%. 

The deal was previously run during the last quarter of last year but obviously they thought this would be a good incentive to continue to keep the new stock rolling, even if it does, it seems, contravene EU law.

Make of that what you will.

And remember that this only applies to brand new properties that have never gone through the completion process.  There are still thousands of properties out there which are brand new but were completed on, either by the developer of the banks.

This IVA reduction only applies to those properties that have never completed.

As Tesco would say..."Every little helps".

A growing number of experts believe that the Spanish property market is showing signs of recovery following the well documented economic crash which has plagued numerous global property markets.

At least that's how Taylor Wimpey Espana sees the upcoming year in Spain.

With years of experience in building some of Spain's most highly regarded properties, Marc Pritchard, sales and marketing manager of Taylor Wimpey España, suggests that the Spanish market has now reached the bottom and will move in a positive direction this year, highlighting a number of aspects that will aid Spain's recovery.

Sale prices in Spain for quality properties in prime locations were stable in 2011 and Pritchard indicates that this trend will continue into 2012 while properties in less popular inland locations that have reduced infrastructure or no views will drop further in price.

Pritchard predicts that a greater number of lifestyle buyers will enter the second home market this year with very few looking for rental returns. He suggests that the average age of the property buyer will rise up to 55 years old, signaling that lifestyle attributes will be of greater importance in 2012.

Read the full story at WorldPropertyChannel.com