Property

Madrid following Palma’s lead

A controversial law effectively banning the holiday rental of almost all flats located in apartment blocks in Palma de Mallorca appears to have been having the results it was hoped for. Known as the Cort law, it’s main point was that rental properties had to have a private entrance, something very few such flats do in the overcrowded Balearic city. The council that brought in the law last year said...

MAKE MONEY FROM HOLIDAY LETTING

Spending time in your holiday home here in Spain may get you thinking that when you are not over here, you could be getting a useful income to supplement your purchase. Renting of course is a great way to get a financial boost, and there are various factors to look at. As is the case with most things, letting out your holiday home is going to come with tax implications. If your rental income is more than...

RETURN OF PROPERTY BOOM

For the first time since before the financial crisis, annual house sales in Spain have broken the half-a-million barrier, say the latest figures, with a 10.1 per cent hike in residential property changing hands in 2018, as the Costa Blanca leads the way. According to the National Institute of Statistics (INE), a total of 515,051 homes were sold in 2018 – a factor attributed to a combination of economic...

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