A tax break has been announced in the Valencia Region, meaning that 1.5 million residents will save up to €172 in income tax, thanks to reforms made by the regional government. It´s aiming to re-distribute income with low-medium earners paying less, while those with high salaries will contribute more.
The Mediterranean region of Valencia, is now, along with other areas of Spain, introducing new measures to tackle the rise of holiday apartments. New legislation being debated in government, will give local authorities wider latitude to regulate holiday rentals according to their needs. The legislation will mainly apply to people wishing to rent out their homes, as they will now need to obtain a report authorizing their apartments use for tourism purposes. The property will be added to a national register, and granted a unique listing number.
According to data released by the Job Site, Indeed, Spain is now one of the top destinations of choice for British workers looking to relocate after Brexit. The share of job seekers, looking for EU based roles has risen to 15.2% above pre-referendum levels with Spain being the 3rd most popular destination.
A more optimistic outlook for Spain’s growth is predicted for this and next year by the International Monetary Fund now that it considers the Catalunya political crisis to be over, in terms of its possible effects on the economy. The organisation forecasts the national economy will grow by 2.8% over this year, up from its previous predictions of 2.4% – and 2.2% next year, an increase from the former expectations of 2.1%. This means Spain will continue to be the fastest-growing economy in the Euro-zone, which is also expected to achieve healthy growth this year.
Alicante-Elche Airport recorded nearly 958,000 passengers in March, which is great news all around. The highest nationality was the Brits with 365,000, closely followed by the Spanish and the Dutch. An increase of 4.7% over the same month in the previous year, meant 6730 flights were managed by the airport. This takes the total number to 2,375,500 for the first 3 months of the year.
Going by Think Spain, new figures released today show that prices are still rising throughout the country, and were up 4.3% on average in 2017. It´s now around €1532 per square meter for an apartment and €153,200 for a larger property, though this is heavily dependent on the area.
The highest rise was in Barcelona, by a staggering 10.2% which confirms that the political crisis had no effect on home values in the area.
S&P Global has lifted Spain’s rating to “A-” from “BBB+” and assigned the country a positive outlook citing its “overall economic and budgetary performance.”
The agency said it expects Spain’s GDP will expand faster than the eurozone average over 2018-2021, and that the government’s budget deficit will continue to shrink.”
Another ratings agency, Fitch, upgraded Madrid’s sovereign debt rating in January.
The first crowdfunded development in Spain has been green lighted by the Spanish government in Santander, and a plot of 5500 sqm has been earmarked for the urbanization, with construction to start asap.
The city councillor for planning and infrastructure says it could provide an alternative to the standard bank loans, and will help revive the housing market in the region´s main metropolitan area.
The Spanish government, have decided to offer a helping hand to young adults who wish to buy or rent in larger cities, or those threatened by a loss of population, with a particular focus on the Under 35 category, since only a small percentage are able to afford to move out of their parent´s home.
There are set criteria and income levels would be taken into consideration, but both schemes are part of the three year state housing plan.
More good news – The housing market in Spain has seen an increase in the number of homes sold in January, up 13.2% compared to 2017. This January 176,911 homes were sold across the country, up from 125,000 the same time last year. The majority were urban properties, with the remaining 15% rural housing. Rural housing however saw strong growth of 18.9% .
The Costa Blanca saw a 13.8% increase, with Catalunya showing just a 4.1% rise. Navarra was the only region that saw a fall in the number of properties sold.
Good news for Spain as February saw yet another rise in passenger numbers at Alicante-Elche airport, according to operator AENA, with UK nationals once again fuelling the latest rise.
Nearly 712 thousand people passed through the facility last month, with over 280 thousand Brits, followed by more than 52 thousand Dutch nationals.
Despite big passenger rises at the airport in the last few years, the first two months of the year have still produced a three per cent increase compared to last year, with one point four million passengers having travelled via Alicante-Elche.
Good news – Eurozone interest rates have fallen again, ending February on -0.191% and reducing the average Spanish mortgage by €54 a year.
Experts believe the rate, known as the Euribor, will remain below zero for the whole of 2018. It went into minus figures in February 2016 for the first time in history in an attempt to help the Eurozone recover from the ongoing recession, and has not gone above 0% since then.
However, unlike in the UK, where rate changes affect mortgage repayments from month to month, home loans in Spain are reviewed annually, on the anniversary of when they were taken out.
Latest reports from the BBC show that the EU´s economy grew at it´s fastest pace in a decade last year, expanding by 2.5% in 2017, the strongest rise since 2007. The EU´s biggest economy, Germany, grew by 0.6% in the final quarter, France also by 0.6% and Spain by 0.7%.
Going by the latest news on Think Spain, Spain’s residential property market has grown by 23% year on year by the third quarter of 2017. In nine months the market saw 53.9 billion change hands with one in ten being new builds. The same period in 2016 saw 43.9 billion with a year end total of 60.8 billion. These new figures translate to 374,027 home sold, 23.4% more second hand properties, and 19% more new builds.
Going by reports on Alicante Today, property sales in the Costa Blanca, have risen by over 50% in the last 5 years. During the month of December 2017, there were a total of 2,529 transactions, an impressive 30.6% increase when compared with December 2016. During the whole of 2017, there was a 16.8% rise, with a total 34,659 transactions, the highest since 2008. The area has been one of the leaders in the property recovery since the crash, and experts forecast it will continue to do so in 2018.
We are progressing steadily with the construction of the show house on Piver, and we’d like to update you with some images as below. If you’d like to view this, or indeed the other plots that are available, then please do let us know and we’d be happy to show you.
We’d like to announce that we have already started constructing the show house, on our new development Villalux Residencial. We are progressing steadily and will keep you informed of how things are going. You can view some of the build images below.
You can view our last newsletter here, that showcases some of newest proper-ties for sale and rent in Javea
You can view our last newsletter here, that showcases some of our newest properties for sale and rent in Javea.
3 Bedroom, 2 Bathroom Bargain Villas in Gata Residencial
Previous bank repossessions, these properties offer spacious accommodation and consist of 3 bedrooms, 2 bathrooms, kitchen and open plan lounge/dining room. Outside there is a garden, private pool and terrace. They do need domestic work, but once finished will offer a wonderful family home. Prices range from €113,700 for a villa with communal pool, or €180k for villa with private pool.
Proud to launch our new luxury villas in Villalux Residencial, Javea.
New to the market, our urbanization located in Piver, consists of 8 plots ranging from 1000 sqm to 1250 sqm with each villa enjoying breath taking views of the Montgo Mountain and distant Mediterranean. Each of the 8 properties focus on a high quality design and build, where privacy and ultimate comfort take full priority. Complete with home automation systems, air conditioning, underfloor heating, private pool and off street private parking, these homes are designed to offer the perfect holiday retreat or permanent home.
Click here for further info:http://www.villalux.com/8-new-luxury-constructions-villalux-residencial-in-javea-costa-blanca/