IVA (VAT) Property Tax Reduced by 50% !!
There is some exciting news in the Spanish property world and for those considering purchasing a new build property on the Costa del Sol!
The Spanish government have recently announced a reduction in the IVA (VAT) paid on a new property purchase – from 8% to 4%!
So what does this 50% reduction mean in real terms for property purchasers? Quite a lot and for example: If you are purchasing a brand new property in Spain for €150,000, instead of paying €12,000 IVA, you will now only have to pay €6,000!
But you have to be quick! Unfortunately the new ruling is only in force until 31 December 2011 and sadly does not apply to resale properties.
Barrington Homes have some wonderful properties in prime developments where you can take advantage of this offer – Take a look at the beautiful beachfront development of Marina Castillo where prices have also been drastically reduced. Coto Real is a much sought after address and offers a high quality build in a peaceful development and close to amenities and finally Residencia Duquesa, a fantastic location on the edge of Sabinillas and close to the beaches and Puerto de la Duquesa.
For more information or to have a browse through our property portfolio, come along to the Barrington Homes Office in Sabinillas, take a look at our web-site or contact us directly.