The number of property purchases in Spain financed by the means of a mortgage increased by 9.5% in September, new figures show. A total of 32,457 mortgages were approved during the month, the highest figure seen during any month since June 2011, reports newspaper Murcia Today. Meanwhile, average mortgage loan capital rose by 4.1%, compared with the same month last year, to reach €127,732 – the highest figure since December 2008.
After weeks of court rulings and controversy the government has stepped in to overrule Spain’s Supreme Court’s decision over mortgage tax liability. The Impuesto sobre Actos Jurídicos Documentados (AJD) is a tax paid on certain documents, including mortgages, which are signed before the notary. The amount payable is calculated on a percentage of the mortgage guarantee, a figure which varies from region to region – in Andalucia the percentage is around 1.5% and is payable by the borrower.
The number of business licences issued in Marbella rose by 11% in August, compared to the same month the year before, according to Jose Eduardo Diaz, the councillor for Industry and Public Roads. A total of 367 licences were registered during the month, compared with 331 in august 2017.
Taxes are set to rise in a bid to raise an extra €4 billion for the Treasury, announces the Spanish Government. Raising income tax alone, for those earning over €150,000 per year, to 52% would bring in an additional €400 million per year, revealed finance minister Maria Jesus Montero.
Following a record 82 million tourists arriving in Spain last year, tourism figures for the first half of 2018 are looking rather disappointing. Between January and June, the number of tourists visiting Spain fell by 2.2% - a drop of nearly one million - compared with the same period the year before, according to figures published by Spain’s National Institute of Statistics (INE).
Luxury hotel chain, Four Seasons, is coming to Marbella beachfront in an effort to attract more ‘luxury tourism’. Occupying 700 metres of beach, the land is owned by Villa Padierna Hotels & Resorts – a luxury brand in itself. Construction of the new beachfront hotel will begin as early as October 5th when a ceremony will be held for the laying of the first brick – testament to just how important and huge this project will be.