Sweden is one country where people still seem to be buying property in Spain, primarily as holiday homes. After all, with continuous darkness in some parts of Sweden during the winter months you can understand why buying a €60,000 to €120,000 house in the sun is such a desirable prospect. "The Swedish and Norwegians are definitely buying," says Oscar, a Swedish conveyancing expert at Ábaco. So for those interested in selling a property, what are they looking for? "They usually want somewhere that’s not too isolated and a property that is in good order. They like things to be tidy and to work. They are quite particular about what they’re buying and you can expect some searching … [Read more...] about Despite slump, Scandinavians still show interest in Spanish real estate
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The myths about renting property in Spain
However, for some, there is an alternative. Renting is now the new buying. It seems like everyone is doing it and whether you want to upgrade, downgrade or just try a new area, it can be the solution to a sluggish market. It can also be a worry. Stories of terrible tenants and unlucky landlords bounce around the forums. It seems that everyone knows someone with a cautionary tale to tell. Of course, what you don’t hear as often are the success stories where it all came together with a happy ending. For those considering the renting option, let’s dispel a few myths first. Here are some of the snippets of conversation you might here at your local: Myth: ‘Tenants have all the rights in … [Read more...] about The myths about renting property in Spain
A letter from the Tax Authority
The imputed income tax is a tax on property payable by non-residents on the basis that if they wished they could receive rental income from their property. Spanish residents have to pay it too on any second property they own in Spain. For years Spanish property owners were largely unaware of the need to pay this tax. They were often not told about it at the time of purchase and without a similar tax in the UK they remained in luxurious ignorance. Until now. The Spanish Tax system tends to work according to the assumption that everyone knows what they should pay. Whereas in the UK you would expect to get a reminder of some kind for an unpaid bill, here it can go undetected for years until … [Read more...] about A letter from the Tax Authority