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September has arrived and summer holidays are starting to feel like a distant memory as life returns to its usual pace, and we start to see signs of Autumn. Luckily for us, we are big fans of the changing seasons. Whether in the UK or in Spain, there is something special about the light in September, and watching the colours of the leaves change.
The leaves turning golden as Autumn arrives…
Now feels like a good time to look back at the past few months…
We spent the summertime enjoying the beauty of the Spanish beaches, the endless sun drenched days, and delicious food. Along with our family and friends, we soaked up the Spanish culture as much as we could, and truly enjoyed every moment.
Days and evenings spent by the sea.
Time spent with our loved ones in such a special place means so much to us, as it does to many of our customers too. In fact, one of the main reasons that many of our customers are looking for that perfect property in Spain, is because they want a beautiful home in the sun to spend their precious time with their families and friends.
Shopping at the local markets.
We totally understand, and that desire to find somewhere that makes a beautiful setting for making memories really resonates with us. Spain has been the setting of some of our most wonderful times, both as a family and as individuals.
For us, searching for a property in Spain has always been about helping our customers find the place where they can create those special memories and experiences of their own.
A beautiful setting for making precious memories.
Talk to us today, to share your vision and dreams for your own property in Spain, and let us start the search for you. Together we can find you that perfect place in Spain.
Click here to send us an e-mail, or call us on 0161 870 2276.
Nos vemos pronto!
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The “Spanish dream” of owning a property in Spain hit the headlines recently, after a proposed property tax was presented by the Spanish Prime Minister. An increased tax on property purchases for non residents who live outside of the EU.
This news caused concern amongst those of us from outside of the EU who are looking to purchase property in Spain. However, it isn’t always easy to find reliable and trustworthy information regarding such topics as this. So we headed straight for the ever reliable Spanish Property Insight, for their help and guidance with this topic. They have gathered data and information which helped us to look into this proposal a little closer.
The Proposal:
At the start of the year the Spanish Government stated that they plan to impose a higher tax of up to 100% on property purchases by non-resident buyers from outside of the European Union. The Spanish Government called these buyers “speculators” who they claim are exacerbating the housing crisis by driving up the property prices for local residents.
The Data:
According to the government 27,000 homes were purchased by non-resident buyers from outside of the EU in 2023. However, Spanish notary figures show that 18,648 homes were purchased by this group. That is actually a 7% year on year decline.
Furthermore, the figures also show that over the past decade this segments (non residents from outside of the EU) level of investment has been slowly shrinking, with 2023 figures being the lowest outside of the pandemic years of 2020 and 2021.
A declining growth pattern is in direct opposition with the Spanish Governments claims that this segment is the driving force behind the housing crisis:
Image by Spanish Property Insight
In 2023 non residents from outside of the European Union represented 14% of the total foreign buyer market. This is a decline from the high of 25% in 2014 and 2015.
The total foreign market, which is dominated by EU expats from countries such as France and Germany, has grown much faster.
In 2023, there were 623,000 home sales in Spain. The non residents from outside of the EU segment had a share of just 2.99% which is the smallest share, with 79% being local buyers, and 18% being foreign buyers:
Image by Spanish Property Insight
According to regional data, British buyers concentrate in coastal regions such as the Costa del Sol, Costa Blanca and Murcia, in urbanisations that cater to the international buyer. All of which are locations that do not typically overlap with the regions experiencing house shortages.
In fact, in the specific locations that are suffering the most, the number of non-residents from outside of the EU is too small to create an impact. Furthermore, the property purchases appear to be larger villas and second homes close to the coast, not the affordable housing stock within the cities.
What Does It Mean?
In conclusion, the data shows that non-resident buyers from outside of the European Union play a minor role in the Spanish housing market. The market share for this segment is not only small, but is actually declining. The data also shows that the property being purchased by this segment focuses on the Costas, well away from the areas experiencing the housing crisis.
Ultimately, the Spanish Governments portrayal of this segment as “spectators” that are driving up the housing costs for locals is not supported by the evidence. Therefore a high taxation or total ban for this segment seems both disproportionate and misaligned from the realities of the Spanish property market.
In our opinion, it could be said that the above data speaks for itself. In addition to this, the many processes that would have to be navigated in order to bring this proposal, or any proposal like this, into place could be lengthy.
We endeavour to keep on top of the information as it comes in, and update and inform our customers as soon as we can, with accurate and reliable information. Stay posted for further updates as they come in regarding this proposed tax increase.
In the meantime if you have any questions or queries, please don’t hesitate to get in touch here, e-mail us at info@yourplaceinspain.com, or call us on 0161 870 2276.
*All images, and data in this article have been sourced from Spanish Property Insight, with permission.*
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Nueva Andalucía is the largest neighbourhood in Marbella, neighbouring the exclusive location of Puerto Banus. A beautiful balance of the glitz and glamour of Marbella, with a much more relaxed, “set back” approach.
Residential estates and private roads, lined with palm trees and a stunning backdrop of La Concha Mountain. Many have likened the area of Nueva Andalucía to Beverly Hills, yet with that traditional Andalucían touch.
The neighbourhood includes the ‘Golf Valley’ of Marbella, meaning this location is a golf lovers dream with an array of courses to choose from. Add to that the many amenities, such as restaurants, bars, cafes, commercial centres… you can find everything you need.
The property in this neighbourhood is really quite stunning, with everything from penthouses and apartments, to townhouses, and one of a kind villas…there are so many options available.
Known for being a relaxed, calm environment just a short distance from the buzz of Marbella, could it be that the peaceful residential streets of Nueva Andalucía are calling your name?
Take a look at our current favourite properties in this unique location, by clicking here.
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This weekend, all across Spain, Noche de San Juan is being celebrated.
A very special weekend, with bonfires created on beaches and fireworks flying through the night sky. The tradition is a celebration of Summer Solstice, and a cleanse of any bad luck from the year before. Wishes are made over the bonfires, and the celebrations are believed to bring good luck into the year ahead.
Some jump over the bonfires, some take a dip in the sea, and others simply soak up the joyous atmosphere. It is a special celebration, a time for families and friends to come together, and look ahead at all that is to come.
It is a magical night, the firelight and fireworks go on well into the night, and with Spanish schools finishing for the summer holidays this week too, there is an air of fun and adventure in the air.
Have you ever been in Spain for the Noche de San Juan celebrations? If not, we highly recommend it. It is a truly special event, that you won’t want to miss.
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