Luxury penthouse for sale in Golden Mile, Marbella (Click image for details)
The Spanish tax authorities continue to clamp down on unregistered holiday rentals by scrawling through online property portals.
In 2017, as many as 136,600 property owners advertising on holiday rental sites such as Airbnb and HomeAway were contacted by the taxman warning them to declare any income earned through their holiday rental – a marked increase on the 21,500 warnings issued in 2016. Read more »
Penthouse Apartment for Sale in Mijas Costa (Click Image for Info)
Spanish residential property sales figures for January show more upward movements aiding the market’s recovery.
A total of 47,289 residential property sales were recorded during the month, representing a rise of 23.1% on January 2017 and the highest figure recorded since May 2008, according to official government data. Read more »
The Spanish property recovery has been aided by an increase in demand by foreign buyers, especially among Swedish buyers who are now the fifth largest nationality of foreign buyers in Spain, according to Spanish registry data.
In the last quarter (Q4) of 2017, 13.6% of all property sales in Spain were made by non-Spaniards, the highest number for at least two years. Read more »
Rising demand for new build properties revives the Spanish construction sector, pushing up cement sales across the country.
Cement sales rose by 11% in 2017 to reach 12.3 million tons, the first significant increase for a decade, according to the Oficemen federation of cement producers. The upward trend is expected to continue this year, with sales forecast to grow by a further 12%. Read more »
The Spanish economy was one of the fastest growing in the EU last year, a trend that is forecast to continue in 2018.
Spanish GDP stood at 0.8% in the third quarter (Q3) of 2017, due to strong private consumption, buoyant equipment investment and positive, but declining contribution of net exports to growth, according to a new report by the European Commission (EC). Read more »
Magna Hotels and Resorts get the go ahead to renovate and redesign Marbella’s iconic Don Miguel Hotel.
Last December, Marbella council issued a license for the demolition of part of the hotel but Magna Hotels waited to get full planning permission so demolition and renovation could start at the same time. Read more »
The number of Spanish properties sold to foreigner buyers in the fourth quarter (Q4) of 2017 hit a two year high.
During Q4, there were 13.6% more property transactions featuring non-Spanish buyers, compared to the same quarter the year before, with British buyers accounting for 15.6% of the total foreign buyers market. Read more »
Online bank transfers between EU countries can now be done instantly thanks to the introduction of a new system.
Many Spanish banks, including Santander, BBVA, Caixabank, Bankia, Sabadell and Abanca, have already subscribed to the system which allows instant online money transfers up to a value of €15,000. Bankinter is still deciding whether it will offer its customers this service since they can already carry out such transfers using the Bizum system. Read more »