The new political change in Andalucía has brought along a huge tax reform regarding inheritance tax, which was long overdue. This new reform reduces considerably the IHT (ISD in Spain) not only exempting those inheritances with an estate value under 1.000.000 euros, but will also apply a 99% reduction for those that exceed this amount.The run for this reform started off with the previous governing party amending article 22 of the ... [Read More]
BBVA raises Spain's GDP growth in 2018 to 2.9%
Spanish bank BBVA raised the predicted GDP growth rate this year from 2.5 to 2.9%, amidst various reports of a positive economic outlook for Spain in 2018.BBVA released the amended figure after revising the economic impact of the Catalan independence referendum last October, that led financial analysts and economics to suggest the crisis could be damaging to Spain's long-term economic growth.However, six months on, the political crisis ... [Read More]
Spain's credit rating upgraded to A-
Fitch, a leading agency has upgraded Spain's credit rating to A- as the economy continues on a steady path of growth and stability.Four years after the financial crisis hit, Spain was downgraded to a 'B' rating in response to the proposed EU bailout and instability of the nation's banks. The credit score diverted investors and made it much harder to borrow money and make any substantial investments that could help stimulate growth in the ... [Read More]
Spanish economy expected growth in 2017 revised from 2.6% to 3.1% by IMF
The International Monetary Fund (IMF) revised its previous forecast of a 2.6% growth in the Spanish economy this year to 'at least' 3.1%.The revised figure reflects a period of strong consumption, investment and exports in Spain that has helped sustain a smooth economic recovery for the country.The world banking institution predicts that Spain's gross domestic product will surpass pre-crisis levels in the second quarter of this year, ... [Read More]
Self-Build Mortgages in Spain
Encouraged by increased demand for Spanish property, Spanish lending institutions are now offering a variety of accessible funding schemes to property investors. Self-build mortgages are particularly contributing to the increase in new-builds along the Costa del Sol and are an excellent option for investors looking to design and build their own homes on the southern Spanish coastline.A self-build mortgage is a home loan taken out on a ... [Read More]
