Spanish market update

Mon, Jun 14th, 2010

The Spanish market place continues its recovery and remains the most popular destination for people to purchase their dream homes. According to the Spanish statistics office, the INE, sales of Spanish property were up 9% this March compared to last March. This is an increase of only half that seen in February (18.7%) but does point to a continued increase in sales of Spanish property.

Foreigners are thought to be behind a substantial part of the recovery, with agents and developers in the Marbella property market reporting increases of 150% over last year in sales to foreigners. Spain has excellent transport link to the UK with daily flights from most regional airports. The banks are offering some excellent mortgage products with highly competitive rates available for purchase, re-finance and capital raising which is helping to drive the mortgage market. Many of you will be looking to either buy or re-finance you Spanish property - ask us to help. We have access to some of the best deals.

On 1st July 2010 property tax in Spain will rise from 7% to 8% so to save 1% tax people will need to hurry to complete the purchase of their Spanish homes.

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