Reading this article could help you decide to buy a property in Spain before the year 2012 comes to an end.
There have always been good reasons to buy in Spain – nothing has changed;
* Enjoying the sunshine.
* Thousands of miles of beautiful sandy beaches
* Peaceful places in the countryside where you can enjoy unbelievable views and wonderful mountain tracks for walks.
* Enjoying Spanish food and wines which are amongst the best in the world.
But now, the following reasons can definitely make you decide before the year comes to an end:
* Property prices lower than ever with a wide choice of homes at affordable prices.
* For property purchases directly from the builder (not resale), IVA will remain at 4% tax rate only till 31st December.
From 1st January property IVA will rise up to 10%.
* If you buy property and become a resident, you will qualify for a 15% allowance on your Income Tax Return, against your capital repayments and interest paid on your mortgage. In the year of the purchase, we are allowed to deduct all taxes and other costs involved. The limit is up to 9,015 Euros, this means that you can save up to 1,352.25 Euros per year as a refund on your Income Tax Return.
* For non residents and resident buyers 50% tax exemption on capital gains tax when you decide to sell your property. This means that on the day of sale you will be taxed on only 50% of your profits.
Â What better reasons do you need to make your decision before the end of 2012