The Spanish Government has finally acted with decisive action to boost the New Build property sector of the Spanish property market by slashing IVA (VAT) from 8% to 4% thus saving a property purchaser 8000€ on a 200,000€ property purchase .
The news today was greeted with an ecstatic reaction from Real Estate professionals especially in Costa del Sol. This is brilliant news for Marbella and Costa del Sol claimed Pia Karstrom sales executive at the leading Marbella luxury real estate company Sundream Estate. The great thing about this is that the best deals in Marbella right now are key ready new developments and secondly this deal is available on whatever you buy, it has to be great news said Pia.
Another person delighted was Ian Waudby of Crest Group International who looks after the interests of property investors in Marbella. This should certainly help the market in difficult times and could just be the deciding factor for someone who is undecided whether to buy or not said Ian.
Finally Nick Stuart Managing Director of Spanish Hot Properties couldn’t hold back his excitement at the news and claimed this action would stop some agents going out of business. It has been fairly clear to us that some agents this summer have been very much on the edge and this news will certainly help them ride the storm out said Nick. The great thing for us is we have and 5 fantastic New Development deals and this is just the icing on the cake exclaimed Nick.
So it’s pretty clear if you’re looking to buy property for sale in Puerto Banus or Costa del Sol this news is certainly a very positive one for the Spanish property market
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