Property in Spain ‘most attractive investment it’s ever been’

Buying a property in Spain is a more attractive proposition now than it ever has been

So says Marc Pritchard, sales and marketing director of Taylor Wimpey de Espana, who stressed potential buyers should look at the merits of the market at present and "strike while the iron is hot".

Flat for sale in Marbella (Málaga)

"A favourable exchange rate between sterling and the euro combined with Spain's dip in real estate prices have meant that Spanish property is more attractive to buyers than ever before," he asserted.

Mr Pritchard also highlighted another reason to make a purchase now, rather than waiting - a potential tax increase which could come into force from next January.

He revealed value-added tax on real estate transactions, which currently stands at four per cent, may rise to ten per cent at the start of 2013.

Last month, director of international mortgage specialist Conti Clare Nessling told This is Money that Spanish property is a good long-term investment because the market is at its bottom and is expected to improve in the coming years.

Source: propertyshowrooms.com

2 thoughts on “Property in Spain ‘most attractive investment it’s ever been’

  1. Crockett

    Real estate transactions costs? 4% tax (IVA)? 8% transactions costs , a total of 10% (notary costs, registro costs)?

    What is true? Can somebody explain it right here?

    Reply

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