|Property Pulse Issue 458 – 10th December, 2013|
This week's hand-picked Spanish property news
In last week’s Spanish property news, house prices again dominate headlines with three different articles detailing the latest results.
The devastating effect of foreclose is also highlighted. For properties that have been repossessed, there has understandably been a greater decrease in prices, but the loss in value is believed to be more than sixty percent.
Elsewhere, 2013 is set to go down as a new low for the construction of new homes, but some more positive news came for the Spanish economy, which has now officially left recession after more than 2 years of decline.
The growth in the economy has led to talk of the government’s promised plans to reduce the income tax burden on the population at large, particularly for middle and low earners.
A side effect here though is rumour of the potential abolition of the retroactive tax deductions for homes purchased before 2013. The tax breaks, received by 5.8 million homeowners, could be shelved either entirely or within certain income levels, to help offset any general tax cuts.
Away from the news, you can never have read enough information before buying a property, especially abroad. And prior to more detailed research, easily digestible summaries are a good place to start – you can find a new one here.
Here’s the best of this week’s Spanish property news.
Saludos from everyone on the Kyero team!
This week’s top Spanish Holiday Rental properties.
Since the highest house prices in April 2007, property prices have dropped by an average of 41.3%.
Here’s this week’s top Spanish Long term rental properties.
The price of second-hand housing stood at 1,745 euros per square metre in November, a drop of 7.5%.
Each day, we record the popularity of every Spanish property advertised on Kyero. Here’s this week’s top Spanish properties – as voted by you.
Moody’s indicated that the accumulated depreciation on foreclosed homes in Spainhas reached an average of 63%.
Only 26,129 building licences were granted to build new homes, a decrease of 25.95%.
The number of new mortgages granted on homes in Spain stood at 14,856 in September, a drop of 30.9%.
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