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Published on Leave a comment on Residential sales in Spain record highest growth since January 2013

Residential property sales in Spain increased by 23.6% in May year on year, the highest figures since January 2013, the latest official figures show.

house for sale in Sant Josep de Sa Talaia 300x225 - Residential sales in Spain record highest growth since January 2013The figures from the National Statistics Institute also show that home sales have now increased year on year for four months in a row. However, sales did fall back slightly from the year on year figure of 29% recorded in April.

The second hand market and, to a lesser extent, sales of new homes, were responsible for the May increase, up by 26.7% and 12% year on year respectively.

The data also shows that in the first five months of the year home sales increased by 15.8% compared with the same period of 2015, with second hand homes up 21.9% but new house sales down 3.4% over the five months.

Month on month sales growth has slowed. Compared with April sales in May 2016 were up by 3.5% but this was the lowest increase registered in this month in the past five years.
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Published on Leave a comment on The ‘plusvalía’ has become a gold mine for town halls in Málaga province

It seems rather ironic that a tax which is linked with the property market should have shot up during the years when the construction industry has been at a virtual standstill, Sold 300x195 - The 'plusvalía' has become a gold mine for town halls in Málaga provincebut that is the case with the ‘plusvalía’, which is a municipal capital gains tax charged on the increase in value of the land when a property changes hands. This tax has become a veritable gold mine for town halls in the province of Málaga.

The ‘Impuesto sobre el Incremento del Valor de los Terrenos de Naturaleza Urbana (IVTNU)’, to give it its proper name, is levied on the increased value of a property when it is sold, compared with its value when it was bought. When a property is sold to somebody else, the tax is paid by the vendor. If it is inherited or given as a gift, the person acquiring it pays the tax.

The increase in revenue from this source began in 2013 and has continued: figures from the Provincial Revenue Board and the five local authorities who are not part of the organisation (Málaga, Fuengirola, Mijas, Benalmádena and Alhaurín el Grande) show that in 2015 the total amount raised was around 135.7 million euros, compared with 99.8 in 2014 and 80.3 million the previous year.
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Published on Leave a comment on Puerto Banús, the sixth most expensive shopping street in Spain

The ultimate expression of luxury in Malaga province is showcased on the Muelle de Ribera in Puerto Banús. Decades ago, this became the epicentre of the most exclusive Puerto Banús Marbella 2 300x225 - Puerto Banús, the sixth most expensive shopping street in Spainboutiques and now this street which runs alongside the Mediterranean and is lined by designer fashion stores, is the sixth most expensive shopping street in Spain.

Purchasing in these shops is something only the wealthy can do, and the same goes for setting up a business opposite the yachts: the price per square metre to rent a shop in this prestigious street is 2,280 euros.

This information is included in an annual report on the fashion business which is produced by the Asociación Empresarial del Comercio Textil y Complementos (Acotex), and it shows that rental prices slightly increased last year, from 2,160 euros in 2014.
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Published on Leave a comment on For Sale: Stylish Apartment in El Campello, Alicante

This beautiful apartment features 3 bedrooms, 2 bathrooms, living room, open concept kitchen and a lovely large terrace; located in the coastal town of El Campello, near Alicante, and just 500 metres far away from the beach.

Click here for further details

1. Apartment for sale in El Campello Alicante - For Sale: Stylish Apartment in El Campello, Alicante
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Published on Leave a comment on Impressive Holiday Villa in Ibiza (Balearic Islands)

Ibiza (Balearic Islands), 7 bedrooms, 7 bathrooms, 800 sqm, Swimming-pool, Seaside Resort, In a mountain area

1. Holiday rental house in Ibiza Balearic Islands - Impressive Holiday Villa in Ibiza (Balearic Islands)
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Published on Leave a comment on Beach Apartment for Sale in Torrevieja (Alicante)

2 bedrooms, 2 bathrooms, 68 sqm, next to the beach, Torrevieja (Alicante)

1. Apartment for sale in Torrevieja Alicante - Beach Apartment for Sale in Torrevieja (Alicante)

2. Apartment for sale in Torrevieja Alicante - Beach Apartment for Sale in Torrevieja (Alicante)
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Published on Leave a comment on For Sale: Brand New House in Fuengirola (Málaga)

Fuengirola (Málaga), 3 bedrooms, 3 bathrooms, useful area 220m2, brand New

1. House for sale in Fuengirola Málaga e1460645129311 - For Sale: Brand New House in Fuengirola (Málaga)
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Published on 1 Comment on Taxman turns attention to hidden internet property rentals

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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Published on Leave a comment on How long does it take to sell a property in Spain?

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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