Tax changes boost Spain's appeal
Tuesday April 8th , 2008
Spain could be set to attract extra interest from property buyers in the wake of recent tax cuts, a media outlet has suggested.
The Telegraph said the Spanish government's recent move to reduce the capital gains tax rate from 35 per cent to 18 per cent could boost its appeal.
According to the publication, the reduced amount not only puts it in line with places such as the UK, but may also encourage more people to invest in the Spanish market.
The country is already the major hotspot for Britons who choose to invest abroad, largely because of its favourable weather conditions.
Commenting on the country, the Telegraph said: "The allure of owning a home in sunnier climes makes Spain the most popular location for Britons buying abroad."
The newspaper added that the changes to the tax rules would act as a "further incentive" to invest.
According to Holiday-Rentals, almost a third of European properties owned by UK-based buyers are in located in the country.
