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Duquesa Village - 65 per cent discounts
Costa Del Sol - Spain Duquesa Village UP TO 65% DISCOUNT AND UP TO 100% FINANCE!! We are pleased to offer 2 and 3 bedroom apartments in thi ...
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Posted On: 06/01/2012
50% VAT on new property purchases in Spain to continue throughout 2012
It has now been confirmed that the reduced VAT from 8% to 4% on new homes will be extended throughout 2012.
According to the Bank of Spain, Spanish house prices will have fallen 37% from pre-crisis levels and should bottom out in 2012, while the price of land will have fallen up to 60%. Since 2008, prices have fallen by an average 20%, with a further 10% drop likely until 2012, when they are expected to stabilise.
Many experts now feel property in Spain is reaching its final phase of adjustment and property values will start rising in 2012.Confidence is slowly beginning to return as property transactions increase after four years of sharp declines.
Most experts agree that prices have fallen more on the coastal areas, where the price of holiday homes has dropped by 60 per cent in some cases. The fall in prices has resulted in a considerable increase in the number of foreign buyers looking for bargains. According to the Bank of Spain, foreigners invested €1.3 billion during the second quarter of 2011.
With bargain property in Spain available in all coastal resorts in Spain could 2012 be the time to now buy.
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