Boosting Spanish Real Estate

Several real estate experts in Spain have made suggestions about how the new government can boost the country's property sector.

Changes to taxation is supposed to be the way forward to boost Spanish Property Market.

The previous government cut the value-added tax payable on new-build houses in the nation by 50 per cent in a bid to boost the real estate market.

Buyers can take advantage of the reduction until December 31st 2011, when the tax will revert back to its previous level of eight per cent. The VAT reduction means a saving of up to 8,000 Euros (US$ 11,500) on a 200,000 Euro (US$ 288,420) property.

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