Depiction of the cumulative increases in tax rates in Spain.
Credit: Shutterstock, dajingjing
The Spanish government has made it clear: speculators beware. The government is trying to put a stop to housing being treated as a simple investment tool.
Their proposed reforms will ensure that only those promoting social housing get tax breaks, while real estate investment trusts (SOCIMIs) face a tougher fiscal regime. And if you think the government’s just talking, think again – new reforms are already on the way to Parliament.
But it’s not all about tax breaks for the masses. The government is extending its plans to help homeowners refurbish their empty homes for affordable rent. It’s a ‘renovation for rent’ scheme that promises a five-year rental commitment for those who take part.
Is this a blow to Spain’s property investors or a call for a change in strategy?
Have your say in the comments section.
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