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.