Tax reforms could boost Spanish property market - 22nd September 2008
Spain’s property market could be boosted by upcoming reforms to the country’s tax regime, according to recent reports.
Spain’s prime minister Jose Luis Rodriguez Zapatero has recently re-opened talks to scrap IHT and this could help to stimulate the Spanish housing sector. It could also help it become more attractive to overseas property buyers.
Negative media reports about over-supply, corruption and plunging prices have put many prospective British buyers off. In addition, the strength of the euro has led to fewer buyers investing in Spanish property in recent months, and expats living out there already have been under some serious financial pressure.
Simon Conn, Sales & Marketing Director at Conti Financial Services Ltd, says: “Scrapping IHT can only be good news, but we’ll have to await the detail before finding out how much this will really benefit British investors and expats. That said, it’s a boost for the Spanish property market and should help to stimulate the sector.
“Despite the doom and gloom of recent media reports, enquiries received by Conti about Spain indicate that things are still strong and that it’s still a top choice for British buyers.”
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