Property experts have been reassuring holiday homeowners in Spain that there's no need to fear plans to introduce holiday rental licences in the country just yet. The Spanish government's proposals to licence the rental of holiday homes have caused confusion, with many holiday homeowners voicing concerns that the new laws could act as a deterrent for people thinking of renting out their property to a tourist as they normally would. The proposals have caused some cash-strapped expats to feel uneasy, with concerns especially among those homeowners who only rent out their properties at peak times of the year. The proposals would include a tax on holiday rental income and would mean any … [Read more...] about What new holiday rental licences in Spain could mean
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Euro plunges as Spain cuts deeper
Changes over one week: GBPEUR: 1.254 to 1.267 (+1.037%) - Highest point since October 23, 2008 USDEUR: 0.807 to 0.82 (+1.161) - Highest point since June 18, 2010 Oh, Spain! As you can see above, the euro sits at multi-year lows against both the pound and US dollar this week, giving you a good opportunity if you intend to emigrate to the continent, or snap up some Eurozone goods. Yet the reasons for the euro’s decline could be better. Spanish Prime Minister Mariano Rajoy has announced another €65 billion in spending cuts for the Iberian nation, already widely discredited as the best way to keep Spain in recession. (For instance, Jeremy Warner of telegraph.co.uk notes, “The … [Read more...] about Euro plunges as Spain cuts deeper
And there was peace in Portugal
An average Portuguese citizen might make about €800 per month, has bought a house and is paying back the loan to the bank, leaves home each day at 7am and returns at 7pm. He has one child, whom he leaves at school all day. Take those €800 and let’s do some math. The mortgage will cost an average of €300, leaving €500 for food, transport and basic services. By the end of the month his bank account will just have small change left – if not a huge credit card hole. This data is accurate as of May 2012 and can be checked at Pordata, the private national database, run by the former Socialist Party agriculture minister from the seventies and eternal presidential candidate, the respected … [Read more...] about And there was peace in Portugal