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A developer is planning to build the European Union’s tallest skyscraper in Madrid.

Madrid las cuatro torres 300x225 - Developer is planning to build the European Union’s tallest skyscraper in MadridThe 70-floor building would go up in the Chamartín district of the capital, and be part of a larger six-tower complex planned by Distrito Castellana Norte (DCN), has said company CEO Antonio Béjar.

The new buildings are slated for construction near four existing skyscrapers known as Las Cuatro Torres, whose 52-floor Torre Cristal, standing at 250 meters, is currently Madrid’s tallest tower.

Béjar said that the project “will redesign the city’s skyline and place Madrid among the main European capitals.”

According to Béjar, the six new towers “make up a balanced and sustainable urban setting.”

Béjar said the project has all necessary authorizations and technical approval reflected in 48 favorable reports. But it still lacks a municipal license. Béjar said that his company has not sent an ultimatum to city authorities, but that he hopes to get a reply before the end of this year.
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Spain’s Tax Agency is targeting the owners of apartments who placed rental ads last year in a crackdown on unreported income.

flats for sale in Murcia 300x170 - Taxman turns attention to hidden internet property rentalsWith the 2015 income tax drive now officially underway, taxpayers who use the new online tax filing program, Renta Web, may find the following message on their computer screen:

“According to data in the Tax Agency’s power, you have placed property rental ads in various media, including the internet.”

The note is a reminder that any income from such rentals must be declared, in the same way as income from foreign pension schemes or other foreign assets.
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House prices throughout Spain seem to be rising as the market slowly raises its weary head above the doom and gloom of 2012 and 2013.

A Coruña 300x225 - How long does it take to sell a property in Spain?Some areas do seem to be rising more quickly than others though. With credit being offered once again by the banks, the outlook is definitely more positive than it has been in recent years.

How long does it actually take to sell a property on average now? Well it depends on where the property is and what the demand is like in the area.

According to new findings, in Spain on average a property takes around 10.2 months to sell which is already considerably less time than it was six months ago, when the figures stated that on average it took 10.6 months, and even less so than the 11.5 months in 2014 and 13.2 months in 2013.
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Marbella continues to attract international property investment. The investment fund Resolution Property has returned to the town after ten years’ absence to invest in luxury properties in the resort.

Marbella 1 300x199 - Luxury property sector in Marbella attracts 100 million eurosThe fund also plans to source investment opportunities in sectors such as services, retail, hotel and holiday rentals. The fund’s assets will be managed by Rhone Property, an investment fund management company with a track record of experience in Marbella.

Two companies make up the capital behind the fund: the British Resolution Property and the Swiss Be Capital. Each brings 50 per cent of the total capital to the fund and will carry out the investment via Investis Properties.

This company already owns an extensive portfolio of assets in Marbella and these have a value in excess of 50 million euros. The volume of investment will allow the company to become a REIT (real estate investment trust - SOCIMIin Spanish) and therefore place Marbella on the alternative stock market in Spain.
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The leafy Madrid dormitory town of Pozuelo is Spain’s richest town, while Torrevieja, a run-down resort on the coast of Alicante province, remains the poorest, according to the latest municipal wealth and inequality survey published by the National Statistics Institute (INE).

Torrevieja 300x225 - Torrevieja is been named Spain’s poorest townThe study covers 109 Spanish municipalities throughout Spain, and shows that at €70,298, annual household income in Pozuelo, around 15 kilometers to the northwest of the capital, is five times that of Torrevieja’s €13,977.

Pozuelo is dotted with exclusive gated communities that are home to soccer players and other celebrities. Torrevieja has a significant number of retirees living all year round, many of them from the UK and Germany, and its economy is largely dependent on the summer season.

In general, the north of Madrid is home to the capital’s wealthiest inhabitants: in Majadahonda, ...continue reading "Torrevieja is been named Spain’s poorest town"