03Jul

Catalonia property tax increases

In a rather bizarre move given the overall situation in Spain the regional government of Catalonia has increased transfer tax on the purchase of a second hand property from 8% to 10%.

The last few months have seen some small green shoots of recovery in the property market in Spain with sales starting to increase slowly. Any extra costs could snuff out the tiny improvements and halt the anticipation of further recovery in the property market during 2013.