Comments on: Mortgage Moratorium: Much Ado About Nothing http://belegal.com/blog-by-antonio-flores/mortgage-moratorium-much-ado-about-nothing/ Thoughts about laws and regulations which affect foreigners in Spain Wed, 16 May 2012 17:01:19 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: aflores http://belegal.com/blog-by-antonio-flores/mortgage-moratorium-much-ado-about-nothing/comment-page-1/#comment-106 aflores Thu, 15 Jan 2009 08:08:03 +0000 http://www.marbella-lawyers.com/blog-by-antonio-flores/?p=106#comment-106 The latest measure to boost foreign investment was to eliminate non-residents wealth tax (together with wealth tax as a whole). This tax, which as we know not all foreigners pay, is hardly ever a consideration for anyone buying in Spain because the average tax payment is around 500 Euros per year and in fact very few foreigners do actually know they have to pay this tax and if they knew, they would not be the least concerned. When we go through the prologue of last years measures to "activate" the economy and we read that this specific measure will be a strong incentive to foreign investment we can easily conclude that this Government simply has not a clue of what to do. The latest measure to boost foreign investment was to eliminate non-residents wealth tax (together with wealth tax as a whole). This tax, which as we know not all foreigners pay, is hardly ever a consideration for anyone buying in Spain because the average tax payment is around 500 Euros per year and in fact very few foreigners do actually know they have to pay this tax and if they knew, they would not be the least concerned.

When we go through the prologue of last years measures to “activate” the economy and we read that this specific measure will be a strong incentive to foreign investment we can easily conclude that this Government simply has not a clue of what to do.

]]> By: MarbellaPropertyGuy http://belegal.com/blog-by-antonio-flores/mortgage-moratorium-much-ado-about-nothing/comment-page-1/#comment-105 MarbellaPropertyGuy Mon, 12 Jan 2009 14:43:53 +0000 http://www.marbella-lawyers.com/blog-by-antonio-flores/?p=106#comment-105 Very good article. I could not agree more that the measures this government has introduced will have no effect on the property market and the economy as a whole. The most effective measure would certainly be to reduce the transfer tax ( even if only for a limited time). GDP growth and wages are the key to stabilising home prices and there are no measures to addressthis either. The silence is deffening. The Marbella property market is of course less tied to the Spainish economy as a whole. However, offering incentives for the many investors that could invest and stabilise the market does not seem to be a priority. Guy Marrison www.marrisonproperties.com Very good article. I could not agree more that the measures this government has introduced will have no effect on the property market and the economy as a whole.

The most effective measure would certainly be to reduce the transfer tax ( even if only for a limited time).

GDP growth and wages are the key to stabilising home prices and there are no measures to addressthis either. The silence is deffening.

The Marbella property market is of course less tied to the Spainish economy as a whole. However, offering incentives for the many investors that could invest and stabilise the market does not seem to be a priority.

Guy Marrison
http://www.marrisonproperties.com

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