According to Survey Spain reputable Chartered Surveyors with whom Team España have had a long association predicted more than two years ago (when energy efficiency certificate were initiated in Spain), that local property taxes are to be discounted for properties with better energy ratings. This has now been confirmed by Government. The lower two ratings F and G, which is by far the majority of buildings we encounter, receive no discount nor do those of course that do not have a rating assessed as yet. We foresee that the lowest rated properties are likely to be penalised in the near future as a further incentive to upgrade the efficiency of the property (and raise money!). Owners will now be more encouraged to balance the energy and tax savings of improvements of the property against the cost of those improvements.
A good Energy Efficiency rating CEE (EPC in UK) will bring tax rebates as well as lower energy bills. From the 1st January 2016, the central Government will instruct the rebate of property taxes - IBI - according to the following schedule.
Grade A - 20%
Grade B - 16%
Grade C - 12%
Grade D - 8%
Grade E - 4%
Those in Grades F or G or that haven't already submitted a certificate will receive no rebate.
It's only a matter of time before the lowest grades are taxed higher, so get out the calculator to work out the cost of improving the installation through double-glazing windows, permanent draft proofing, modernising old central heating boilers and air conditioning units, etc and balancing that against the lower energy bills and now lower property taxes.
Read more Date: 16 October 2015
GREAT NEWS FOR PROPERTY SALES IN NERJA
NEW HOMES VS. RESALES
According to Spanish Property Insight August proved to be another month of growth in sales driven primarily by the resale market, up 52% on last year, compared to a 27% decline in new build sales, which were the lowest on record. Resales were back to where they were in mid-2008, as the Spanish property market cooled down heading for crisis.
Read more Date: 14 October 2015
NERJA IS ONE OF VERY FEW RESORTS ALONG THE COSTA DEL SOL NOT AFFECTED BY THE GLUT OF NEW BUILD
How times have changed, at long last there are distinct signs of new build recovery along certain parts of the Spanish Costa as well as in some of the major cities. Not since 2007 have there been so much evidence of building activity. New build development is slowly re-emerging after almost 8 years of inactivity. The Costa del Sol, Mallorca, the Costa Brava as well as the major popular tourist cities like Barcelona, Malaga, and Madrid are all the recipients once again of heavy machinery, high rise cranes and excavators, as new developments get underway again after seven / eight years of paralysis. However it is not all steel, cement and chrome. There are still huge volumes of empty homes across certain parts of Spain, according to Government figures a staggering 535,734 remain vacant after the building boom throughout the years leading up to 2007.
Read more Date: 06 October 2015
Our previous Team Group brochure was the Spring edition issued in March. At that time our Sales headline read “The best start to the year in 8 years”, I am delighted to report that this trend other than a traditionally quiet August has continued.
We expect a similarly strong second half. The reasons are many but the feedback from our buyers whilst varied can be summed up in two words – Confidence and Nerja. Confidence in Spain and its improving economy plus the fact that Nerja is proving to be one of the more aspiring resorts to own a property on the Costa del Sol. The latter claim is supported by research undertaken by Tinsa one of Spain’s leading property valuation companies that Nerja is one of very few coastal towns where property values are improving.
Read more Date: 20 September 2015