Value added tax by half by the end of the year cut the dream of an own Finca in the summer Spain should interested materialize the best yet in this year. The reason: Until December 31, 2011, the local VAT rate is only half that. Instead of 8 so far only 4 percent accrues until year end taxes. As the Internet portal myimmo.de reported, the offer is valid for all houses and apartments with brand new from the Builder. International real estate is very attractive for investors not only for holiday reasons.
They offer mainly a safe form of investment. Also tax, real estate outside of the Federal Republic is a lucrative business. Second homes on the bath island of Majorca are especially popular. The VAT reduced since mid-August when real estate was introduced to stimulate the construction industry and to the reduction of vacant residential units. Interested buyers must act quickly. The tax is lifted again beginning next year to eight per cent. In the summer, the Government under Jose Luis had Rodriguez Zapatero the value-added tax from 7 to 8 percent increases in order to generate more revenue for the State. The plan failed however, because many Spanish families abandoned a house purchase.
Now the Spaniard should consider once again that. Purchase prices include only 4 percent tax and about 2 percent in new real estate acquisition costs. The Balearic Island of Mallorca is considered particularly attractive because of its good infrastructure and accessibility. In the British edition of the financial times, the Balearic Island finished even 5th among the top sites for real estate investors. More information: news.myimmo.de/immobilienmarkt/… University Service GmbH Lisa Neumann