There is no crisis! Zero! I live there too also there is no shortage of cheap houses, there are thousands, empty, they need to help the Spanish people with renovation costs, problem solved! Young Spanish person takes on a cheap property often in towns, then help with renovation costs by taking off the 21% tax.
This is a good point and another part solution would be for the government to buy all of the bank repossessions at cost. This would cancel the debts in the banks and free up thousands of vacant properties.
It’s not true, you are spot on! They don’t realise how damaging this can be to businesses like yourselves! Wouldn’t stop me buying in Spain and you can only deal with the actual rules as they stand today!
Exactly. The housing crisis is real, though, but not in all of Spain- some places actively rely on enclaves of expats (both permanent living and holidaying, regardless of origin nationality) and tourism for local business's. Thanks for watching and the comment. 👍
@@britslivinginspain thankyou for your balanced views . Here in the UK there are not enough affordable houses either maybe our Government should do the same for foreign buyers or perhaps that is what this is really all about .
This is correct and I am sure the autonomous communities that relay on tourism and foreign visitors will not agree to a blanket 100% tax on property purchase
The BBC headline is to attract attention , the sub headline gives more information but is not incorrect 'Spain is planning to impose a tax of up to 100% on the value of properties bought by non-residents from countries outside the EU, such as the UK.' Key words are 'up to', it doesn't mean all purchases automatically taxed at 100% Part of the problem is peoples unwillingness to spend more than 2 seconds on looking for the actual details and just react without much thought. I think the BBC did a fair job without diving into all the unknown possibilities and anyone with even a small grasp of Spanish politics knows 100% tax stands 0% chance of passing.
To many shouty men out there getting click bait views from this news and spinning it to get views! Great to hear you guys actually giving the truth out!
Thanks for the clarity. This is pretty much what I thought, so hopefully we will still be able to buy our retirement home on an NLV in a couple of years.
Fingers crossed, but as we understand it- and in a NLV it shouldn't impact if it's your only property. If it gets passed through Congress etc. There will be plenty of notice and everyth8ng will be "set in stone". Thanks for watching and the comment.
I think what a lot of the Spanish people miss is they sold there houses which is meant to be there inheritance in the first place to the foriegners they were never forced to do so you can’t have it both ways
In our area, we don't tend to get many Spaniards selling, apart from those in places like Madrid that had a holiday home that they no longer use. A lot of the developments in our area were built aimed for the holiday home market in the 80s and 90s. Belts different in all areas of Spain, though and not easy to do a "generalisation" for the videos. Thanks for watching and the comment. 👍
@ in my village the parents sold the grandparents houses to buy there kids flash cars then realised they had out priced the houses for the kids to buy in the village
Current Tax is 10% for non Residents (I believe locals don't pay this) and for sure increasing the Tax (or just talking about it) will\does have an impact on the Market, do people jump quick now to Buy "just in case" , others to jump to Sell (when price is high) or hold off till house prices drop as buyers move else where....Upto 100% !!!, even another 10% will impact buyers budgets. I agree they need to help the locals (or they will be voted out of power) and this will send shockwaves in the Property market and should be reported. When local Rent and Property Prices are up 50% in 5yrs, and locals get 3% pay increases. the Bubble will Burst at some stage. Could be good for Buyers to hold off and negotiate the price down , or the Property won't sell. I am sure data in the next few months will show the impact of such Proposed strategy.
Each autonomous region sets their own ITP, but it is the same whether a national or non national buyer- and it's not 10% in all areas. There is a reduction in some areas for first time buyers under a certain age with stipulations regarding selling or renting out that property in the future.
Could you clarify if this is the proposed increase of property purchase tax or and increase in the percentage of non residents tax that we pay each year- we pay 25% of 2% of the cadastral value of the property which is roughly 200 euros per year. Many thanks Glen and Pam
Spains already lost the wealthy investment with their wealth tax. They are only hurting themselves. Also big buisness will not invest in this country neither.This is why it is like it is. You cant grow without investment. Sounds like they are targetting the dodgy rental sector.
There's always lots of things governments in all areas and could be doing; We don't get involved with things like that as a rule- we did this video to advise concerned people of the full picture, not just crappy headlines.
Aren't you just as guilty by not acknowledging this could get through the legislative process and enacted by the autonomous regions and so it will have an impact on non EU/non residents wishing to buy a holiday property for their own use.
Not sure how you work that out. As we mentioned, it's a PROPOSAL not even a draft for consideration. Even then it has to go through parliament and Congress before it is voted on and made law. If and when this starts to go through the process of potentially gratifying this into law, then we will update information accordingly.
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Morning Andy Helen 👋
Thanks very much for sharing and giving your advice. Always balanced and appreciated.
Thanks for watching and the comment 👍
@britslivinginspain 🫡🇪🇸🇬🇧🙂
Thanks very much for all the information really appreciate your comments. ❤
Thanks for watching and commenting. We always try to help where we can 👍
There is no crisis! Zero! I live there too also there is no shortage of cheap houses, there are thousands, empty, they need to help the Spanish people with renovation costs, problem solved! Young Spanish person takes on a cheap property often in towns, then help with renovation costs by taking off the 21% tax.
This is a good point and another part solution would be for the government to buy all of the bank repossessions at cost. This would cancel the debts in the banks and free up thousands of vacant properties.
It’s not true, you are spot on! They don’t realise how damaging this can be to businesses like yourselves! Wouldn’t stop me buying in Spain and you can only deal with the actual rules as they stand today!
Exactly. The housing crisis is real, though, but not in all of Spain- some places actively rely on enclaves of expats (both permanent living and holidaying, regardless of origin nationality) and tourism for local business's. Thanks for watching and the comment. 👍
@@britslivinginspain thankyou for your balanced views . Here in the UK there are not enough affordable houses either maybe our Government should do the same for foreign buyers or perhaps that is what this is really all about .
Thank you for your sage words…
Thanks for watching and your comment
ITP is determined by autonomous regions not central government remember that
This is correct and I am sure the autonomous communities that relay on tourism and foreign visitors will not agree to a blanket 100% tax on property purchase
The BBC headline is to attract attention , the sub headline gives more information but is not incorrect
'Spain is planning to impose a tax of up to 100% on the value of properties bought by non-residents from countries outside the EU, such as the UK.'
Key words are 'up to', it doesn't mean all purchases automatically taxed at 100%
Part of the problem is peoples unwillingness to spend more than 2 seconds on looking for the actual details and just react without much thought.
I think the BBC did a fair job without diving into all the unknown possibilities and anyone with even a small grasp of Spanish politics knows 100% tax stands 0% chance of passing.
Unfortunately most people only read the sensational headline. The press in the U.K. release these headlines about Spain constantly
To many shouty men out there getting click bait views from this news and spinning it to get views! Great to hear you guys actually giving the truth out!
🤣🤣🤣🤣🤣 thanks for watching and the comment 👍
Good to get the proper info.
@@Biged0156 thanks for watching and the comment 👍
Thanks very much for your level headed and as always really informative video. Great to have clarity instead of sensationalism 😊👍🏻
Thanks for watching and the comment. We thought we may as well add some sensibility to this before it all gets out of hand...
Thanks for the clarity. This is pretty much what I thought, so hopefully we will still be able to buy our retirement home on an NLV in a couple of years.
Fingers crossed, but as we understand it- and in a NLV it shouldn't impact if it's your only property. If it gets passed through Congress etc. There will be plenty of notice and everyth8ng will be "set in stone". Thanks for watching and the comment.
I think what a lot of the Spanish people miss is they sold there houses which is meant to be there inheritance in the first place to the foriegners they were never forced to do so you can’t have it both ways
In our area, we don't tend to get many Spaniards selling, apart from those in places like Madrid that had a holiday home that they no longer use.
A lot of the developments in our area were built aimed for the holiday home market in the 80s and 90s. Belts different in all areas of Spain, though and not easy to do a "generalisation" for the videos. Thanks for watching and the comment. 👍
@ in my village the parents sold the grandparents houses to buy there kids flash cars then realised they had out priced the houses for the kids to buy in the village
Current Tax is 10% for non Residents (I believe locals don't pay this) and for sure increasing the Tax (or just talking about it) will\does have an impact on the Market, do people jump quick now to Buy "just in case" , others to jump to Sell (when price is high) or hold off till house prices drop as buyers move else where....Upto 100% !!!, even another 10% will impact buyers budgets. I agree they need to help the locals (or they will be voted out of power) and this will send shockwaves in the Property market and should be reported. When local Rent and Property Prices are up 50% in 5yrs, and locals get 3% pay increases. the Bubble will Burst at some stage. Could be good for Buyers to hold off and negotiate the price down , or the Property won't sell. I am sure data in the next few months will show the impact of such Proposed strategy.
Each autonomous region sets their own ITP, but it is the same whether a national or non national buyer- and it's not 10% in all areas. There is a reduction in some areas for first time buyers under a certain age with stipulations regarding selling or renting out that property in the future.
Watch property prices go up now it will cause panic buying i was due to view one and just had an email to say it's gone up another 7k
At the moment here in Spain it’s the lack of availability in the resale market that’s pushing up the prices.
Been like that in London for 40 years,join the club
BBC report on this earlier today was so inaccurate. Waste of my paying the licence fee. It used to be a good broadcaster. Shame.
@simonsuddons5214 yeah. One of the reasons why we did this video.. thanks for watching and the comment 👍
Cancel your licence. It's entirely optional.
Good for calling out the Beeb Helen.
🤣👍🙏 thanks for watching and the comment 👍
It’s made me so cross all of this.
@@lynnmcnamara2342 yeah. It's been blown all out of proportion for no reason- thats why we did the video. Thanks for watching and the comment
The way things are going on in Britain..id rather live in spain and pay the tax.
Best comment so far! Thanks for watching 👍 ❤️
Could you clarify if this is the proposed increase of property purchase tax or and increase in the percentage of non residents tax that we pay each year- we pay 25% of 2% of the cadastral value of the property which is roughly 200 euros per year. Many thanks Glen and Pam
This is a proposed increase in Property Purchase tax (in Alicante province it's currently 10%) thanks for watching 👍
Does the UK have a special property tax for foreigners?
No idea. We've not lived there in well over a decade (some over 20 years) so can't comment.
Spains already lost the wealthy investment with their wealth tax. They are only hurting themselves. Also big buisness will not invest in this country neither.This is why it is like it is. You cant grow without investment. Sounds like they are targetting the dodgy rental sector.
It is the short term/holiday rental market that they have a problem with.
if i move to Spain on NLV i would of thiught id be exempt from 100 tax on purchase as i would be becoming a resident? your thoughts please.
Watch all the video, it explains lots
They have plenty of land in Spain they should be building ! We have given up a lot of green belt land in uk to do just that to accommodate immigrants
There's always lots of things governments in all areas and could be doing; We don't get involved with things like that as a rule- we did this video to advise concerned people of the full picture, not just crappy headlines.
It’s absolute bonkers ! Why not heavy tax all the airbnbs owners in the big cities
Watch all the video, it explains lots
ahhh thats what i thought👍
Nice one lads, too much scaremongering for clicks on other youtube channels. lol, thumbnail 100% tax lol.
@@ourturnnow🤣 at least we said we were going to do a click bait thumbnail (and it was true to video content)
Thanks for watching and the comment 👍
Importing Sanchez's 300k doctors and rocket scientists for each of the next 3 years will really help the shortage..
Aren't you just as guilty by not acknowledging this could get through the legislative process and enacted by the autonomous regions and so it will have an impact on non EU/non residents wishing to buy a holiday property for their own use.
Not sure how you work that out. As we mentioned, it's a PROPOSAL not even a draft for consideration. Even then it has to go through parliament and Congress before it is voted on and made law. If and when this starts to go through the process of potentially gratifying this into law, then we will update information accordingly.
There go my plans for Spain, Portugal maybe.
Did you watch all of the video?