New build property in Spain

Bank Owned Properties in Spain. Not All Are The Same

In the last blog post I talked about why you probably don't want to buy a repossessed home through a bank in Spain. This is true for about 95% of that type of stock but every now and again some interesting ones come up. This is because you need to understand the different types of property that the banks have on their books and how they came to have them.

Spanish Government Cuts VAT on New Build Property

Finally after years of inaction the Spanish Government has acted to try and cut the backlog of new build homes by slashing the VAT rate on new build property from 8% to 4%. It is described as a temporary measure until the end of the year. This is good news for the new build properties that we hold in various parts of Spain that have already been slashed in price. Ally this to the weakening Euro, the pound was at 1.15 Euros yesterday and Spanish new build property has just become much more affordable. Look out next week for a post about our properties at half price in Desert Springs, Almeria, Benidorm and Murcia.
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