Making it even easier to buy your dream home in Spain, top developer Taylor Wimpey de España, has announced that it will match the Spanish government’s 4% reduction in IVA (the equivalent of VAT) on new properties meaning that NO VAT will be due on new stock properties delivered before the end of 2011.
In an attempt to reduce the volume of stock property in Spain and stimulate the construction sector once again, the Spanish Government has decreed that IVA will be reduced by 50% until the end of the year, making purchasers of both first (mostly Spanish nationals) and second new homes liable for only 4% of the purchase price, a saving of €8,000 on a €200,000 home.
Commenting on the policy change which comes into immediate effect, Ignacio Osle, Sales& Marketing Manager of leading Spanish homebuilder with over 50 years experience, Taylor Wimpey de España, says:
“Whilst this action will not fully solve the problems of oversupply in some areas of the Spanish property market I believe it will stimulate action both with potential buyers who have been cautious to commit and the Spanish construction industry which is extremely keen to get moving once again.
“The Government has seen that price reductions by developers and agents in some cities of Spain such as Marbella and Alicante where there is oversupply has helped to reduce stock levels and it is hoped that by lowering prices through the halving of IVA will reduce excess stock even further.”
With an 86% customer satisfaction rating already, Taylor Wimpey de España is committed to assisting potential buyers further and is delighted to be able to match the reduction in IVA creating a rare time-limited opportunity for investors to purchase their dream home in Spain VAT free.
Fortuitously for second home buyers, the majority of new homes which meet the policy requirements are located in sought-after coastal destinations such as the Costa del Sol, Mallorca and Costa Blanca. Newly completed homes are now often priced equally to used homes yet owners enjoy the advantages of new electrical appliances, white goods and construction guarantees.
Ignacio Osle remarks that second hand homes in Spain are still liable for an 8% transfer of ownership tax. In addition not all the stock properties in the market, many owned by banks, qualify as new homes and are eligible for this VAT reduction as there could have been a prior transaction between the previous owner and the bank.
Ignacio Osle concludes,
“Now is the perfect time to invest in a new home in Spain. The reduction in IVA combined with the favourable Euro – Pound exchange rate mans that British buyers can make hefty savings without compromising on quality”.
Buy today – VAT free!
El Puerto II, Cala D’Or, Mallorca
Two bedroom apartments located on the south east coast of the island very close to the glamorous Marina de Cala D’Or. With 3 communal swimming pools available these properties are surrounded by outstanding natural beauty offering various other activities such as water sports, biking and golf in the local area.
These properties are available fully furnished from €177,000. NO VAT!
The Calpesol residential complex consists of houses with gardens and communal swimming pools.
The properties have three bedrooms, two bathrooms, cloakroom, garden, roofed sun terrace and private parking and are constructed to a high quality.
These properties are built and available now from €160,000. NO VAT!
La Floresta, Elvira, Costa del Sol
The development also has two large communal swimming pools, landscaped gardens and external private parking. The 2 bedroom apartments measure 141 square meters and the 3 bedroom penthouses are 239 square meters. The ground floor apartments have a private garden measuring approximately 3 metres.
All units are built to the highest standard with first-class finishes including an Italian designed integrated kitchen with Silestone worktops, thermal and acoustic insulation and air-conditioning. Each block has its own elevator and exterior carpentry finishes in aluminium.
These properties are available now from €199,500. NO VAT!
