Archives for June 2007

June 29th, 2007

The UK tax authority, HM Revenue and Customs (HMRC), has instigated a massive crackdown on unpaid tax. The Offshore Disclosure Facility (ODF), which some are calling a ‘tax amnesty’ (although it’s not), is aimed at UK residents who are not declaring their offshore bank accounts. All offshore assets would have ...

Continue reading Untaxed Rental Income in Spain

June 28th, 2007

A new breed of Costa con man is preying on gullible sellers, stealing money and even houses, reports Mark Stucklin. These are testing times for Britons with property to sell in Spain. There is a glut of homes on the market; properties are taking longer to sell, and prices in many ...

Continue reading Beware of Buyers who Flash the Cash

June 28th, 2007

Concerned that negative media reports of last week’s stock market slide have focused on only one aspect of the Spanish property market, Chris Mann of Hacienda del Alamo said: “Some people are doing their best to talk the Spanish property industry into a crash but their arguments are built on ...

Continue reading Spain – More than One Property Market

June 27th, 2007

According to a survey carried out by the Organisation for Consumers and Users (OCU) Pamplona, Bilbao and Gijón are considered to be the best places to live in Spain. More than 10,000 people in the OCU survey, carried out in collaboration with associations that are members of Euroconsumers. In the survey, ...

Continue reading Best Places to Live in Spain

June 27th, 2007

A new report from the Royal Institute of Chartered Surveyors (RICS) claims that housing markets across Europe have shown solid house-price inflation in spite of rising interest rates. RICS’ European Housing Review 2007 found that, while growth has slowed, it is still rewarding many investors with double digit growth. It also ...

Continue reading Solid European House Price Inflation

June 27th, 2007

Spain’s blue flag awarded beaches and marinas are keeping the country’s property market buoyant. Spain’s beaches and marinas have received over 500 blue flag awards this year. The Blue Flag is an eco-label awarded to over 3200 beaches and marinas in 37 countries across the world. In order to achieve a Blue Flag, ...

Continue reading Beaches Boost Spain’s Property Market

June 25th, 2007

According to one of Spain’s most prestigious valuation companies, the price of new build property in Valencia city increased by 15.6% in 2006 and the average price per square metre now stands at €2,211 which is still almost half the price of new builds in Madrid and Barcelona. Valencia is ...

Continue reading Valencia New Property Prices still Rising

June 21st, 2007

As the number of Britons taking up residence in Spain and France soared to a total of 961,000 by the end of 2006, the WAY Group reported a ‘significant’ rise in enquiries from expats concerned by highly complex taxation laws in both France and Spain, especially for Brits who are ...

Continue reading Expats ‘vulnerable to IHT laws’

June 20th, 2007

With the popularity of Spain’s Costa Del Sol continuing to soar as a holiday hotspot, investors are hoping to make a mint in developing more facilities, and in particular, golf courses along the ‘Sunshine Coast’. Although once upon a time the Costa Del Sol was populated with nothing more than traditional ...

Continue reading Golf holidays score high in Costa Del Sol

June 19th, 2007

Reading The Telegraph Article Counting the Costa on May 5th 2007 was probably the first time home owners in Spain even suspected they may have been letting their properties illegally. In the article, a spokesperson for the Spanish Ministry of Tourism stated “There are strict conditions before properties are approved ...

Continue reading Legal Holiday Rentals?

June 19th, 2007

If you have just arrived in Spain (or are just about to), do you know what your tax liabilities are and how and where to pay your tax? It is not just newcomers to Spain who must get their tax affairs in order. People do not get into the system for ...

Continue reading New Arrival Tax Plan

June 19th, 2007

A few years ago Spain was in the grip of a property boom, and foreign buyers were falling over themselves not to ‘lose out’. Much of the heat has now gone out of the market, not least because a constant stream of bad news has shaken foreign buyer confidence in ...

Continue reading Spanish Property Market 2006 – 2007

June 18th, 2007

Javier Usua and Ruth Graneda never got out of the car when they visited Sanchinarro and Las Tablas, two of Madrid’s biggest new suburban developments. The concrete-block buildings and empty streets were all they needed to see. “We came to look at apartments but found ghost towns,” said Usua, a 27-year-old ...

Continue reading Ghost Towns Appear As Boom Ends

June 15th, 2007

Some alarming things have been written about the Spanish property market in recent articles like ‘Survive the Costa property crash’ (Sunday Times, April 29), ‘Costas house price crash’ (Times, April 27), ‘Euro helps topple Spanish property’ (Telegraph 25 April), and ‘Spanish property boom ends’ (Financial Times, April 24). Based on ...

Continue reading Misleading reports hide the real picture of the property market

June 14th, 2007

The sandy Atlantic shore of the Costa de la Luz (Coast of Light) is a world apart from the more commercialized Mediterranean coastline and is a great favourite with the Spanish. Stretching from Gibraltar to the Algarve border, restrictions on development have meant that some of the finest beaches in ...

Continue reading Costa de la Luz – Best Kept Secret