The last quarter of 2012 saw a positive end to the year with a flurry of British and other international buyers taking advantage of falling prices and a reduced VAT rate on new properties in Spain.
The higher end of the market also seems to have performed well and at the lower end of the market what are regarded as bargain prices are attracting buyers, especially those with cash as getting a mortgage in Spain is not easy.
Mortgage tax relief has been abolished and VAT on new homes goes up to 10% on 01 January. The temporary reduction of VAT to 4% has boosted the number of overseas buyers.
In September, the last month analyzed by the ‘Instituto Nacional de Estadística’ (national institute for statistics), 1287 properties were sold in Malaga province, according to a report issued earlier this week.
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