The proposed 100% tax on property purchases by non-EU, non-resident buyers in Spain is expected to have significant impacts on the real estate market: 1. Decline in foreign investment: The tax would likely make Spain less attractive to non-EU investors, potentially leading to a drop in foreign demand for properties. 2. Market slowdown: Uncertainty surrounding the tax may cause a temporary decrease in property sales, […]
Spanish Prime Minister Pedro Sรกnchez announced plans to impose significant restrictions on property purchases by non-EU buyers in Spain. The proposed measure would introduce a ๐ญ๐๐ฑ ๐จ๐ ๐ฎ๐ฉ ๐ญ๐จ ๐๐๐% ๐จ๐ง ๐ญ๐ก๐ ๐ฏ๐๐ฅ๐ฎ๐ ๐จ๐ ๐ญ๐ก๐ ๐ฉ๐ซ๐จ๐ฉ๐๐ซ๐ญ๐ฒ made by buyers residing outside the European Union. He didn’t provide more details of how this would work, but did say this was something Congress (Spainยดs Congreso de los […]
Spain’s property market defied global trends in 2024, posting a remarkable 10% sales growth in the first nine months and surpassing 500,000 transactions. A standout third quarter saw a 16% year-on-year increase, with Malaga Province leading the charge at 18% growth. While neighbouring countries like France and Germany struggled with declining markets, Spain’s resilienceโbolstered by foreign buyers, local demand, and a strong economyโcemented its position […]
The Spanish government has announced that the ‘Golden Visa’ program, which grants residency permits in exchange for investments, will end on 3rd April 2025. After this date, no further permits will be issued under this scheme. The ‘Golden Visa’ program was introduced to attract foreign investment by offering residency to individuals who invested in Spanish real estate or businesses. However, concerns have been raised about […]
Airbnb faces fines of up to โฌ100,000 (maybe more*) from the Spanish authorities for failing to remove thousands of unlicensed tourist apartment listings, despite prior warnings. This comes after Spain’s Consumer Affairs Ministry launched formal sanction proceedings against the platform, something that is part of a broader initiative by officials to crack down on unlicensed tourist apartments. Reuters reports that Airbnb said it always asks […]
A new professional network for independent real estate agents has launched in Spain’s Costa del Sol. The Independent Associate Agents (IAA) network, established by LM Group and LMG Academy co-founder Marina Nitzak, aims to provide operational support for freelance real estate professionals. The network operates on a cooperative model, offering members shared access to business infrastructure and resources. Members receive standard business tools including Google […]
You may have heard that the local agents association the LPA – The leading property agents of Spain held a real estate breakfast presentation earlier this week. Plenty to unpack, Iโll do something more in-depth another day but for now, the main takeaway for me is that at some point next year there will be agent regulation implemented through Andalucia and one of the criteria […]
The number of properties sold in Spain in May 2024 increased by a moderate 3% year-on-year, reaching 62,485 homes, with the average price per square meter at โฌ1,681, representing a 1.3% annual increase, according to official figures from Spain’s Notaries. Regionally, Andalucia was very similar to May last year on all fronts. The Valencia Region saw similar transaction volume but notable rises in prices and […]
Following two consecutive months of increases, property sales in Spain in March 2024 reached 56,559 a drop of 13.7% year-on-year, figures from Spain’s Notaries show. However, it should be noted that sales in March were ๐ฎ๐ฉ against February by 3,417 properties, so for those of us wanting to put a positive spin on this, thereยดs the angle! ๐๐๐ซ๐๐ก ๐๐๐๐ ๐ฏ๐ฌ ๐๐๐ซ๐๐ก ๐๐๐๐ ๐ป Andalucรญa -20.4% […]
The real estate market in Costa del Sol is experiencing significant shifts in regulations regarding short-term rentals, impacting both buyers and agents. Recent judgments and regulations have introduced new considerations for those looking to invest in properties with the intention of renting them out on a short-term basis. These changes highlight the importance of thorough research and understanding of the evolving legal landscape before making […]