July 22nd, 2010
The Ministry for Housing will be abolishing the direct funding it has been providing for the purchase of Spanish housing by low income families in 2011 and 2012. The funding, which ranged between 5,000 and 12,000 euros, ends on January 1st 2011 and is part of a series of budget ...
Continue reading Budget Cuts Effect on Low Income House Buyers
July 6th, 2010
According to the Bank of Spain, the total amount of money loaned through mortgages as of May amounted to 680,690 million euros, representing an annual increase of 0.9% over the same month in 2009, the highest growth in nearly a year. Although mortgage debt
Continue reading Spanish Property Loans Continue to Show Growth
July 5th, 2010
According to their Economic and Financial Report for June 2010, the Spanish Banking Association (AEB) state that house prices have now fallen "just over 10% from the previous maximums of early 2008," and are now at levels similar to those of late 2005. They believe that although
Continue reading Banks Weigh in on Spanish Property Prices Changes
June 18th, 2010
According to a study by debit and credit card processor, Mastercard, 80 percent of the Spanish population would be willing to pay by debit card instead of cash, if cards were more widely accepted and if their owners felt they were safer to use. Even though debit cards have a relatively ...
Continue reading Credit Card Owners in Spain Still Wary of Fraud
June 8th, 2010
Realia, one of Spain's biggest four listed property developers, has announced that, in 2010, it will start four new housing projects in Madrid, Valencia, Seville and Valladolid, its first projects in two years. The president of the real estate company, Ignacio Bayón, said today
Continue reading One of Spain’s Largest Developers Commence First Project in 2 Years
June 8th, 2010
The new iPhone was officially announced yesterday and contrary to its previous incarnation, there will be no exclusivity for any one mobile phone provider. The iPhone 4 will be sold by Movistar, Vodafone and Orange. Telefónica Movistar had the exclusive rights to sell the original iPhone, as well as the ...
Continue reading Apple’s New iPhone 4 Available in Spain by Late July
June 7th, 2010
Data released today by the College of Registrars reveals that the number of Spanish property sales recorded in the first quarter of 2010 amounted to 117,911 units, an increase of 7.04% over the same period last year and an increase of 16.28% over the last quarter of 2009. These figures ...
Continue reading Property Sales in Spain Continue to Rise
April 26th, 2010
The Minister for Housing, Beatriz Corredor, said today that according to the latest price data and construction activity, "the worst of the housing adjustment is over" and Spain has entered a "phase of stability." Corredor was speaking during the Low Cost Real Estate Exhibition,
Continue reading Spanish Minister for Housing: The Adjustment is Over
April 22nd, 2010
The Spanish Tax Office has astoundingly announced that taxpayers who purchased a new car recently, and took advantage of the government’s heavily promoted €2000 euro public aid plan (2000E), will have to declare that aid in their tax returns as capital gains income.
Continue reading Spanish Government Aid and Grants are Taxable
April 19th, 2010
This year is the last year you will be able to buy a home in Spain with extraordinary income tax relief, regardless of the buyer's status. As of January the 1st 2011, the reductions for buying a property in Spain will depend on a buyer's income and will mean that ...
Continue reading Time Running Out for Tax Relief on Spanish Mortgages