Saraya Capital

"Changes in Spanish Property Taxes", a storm in a glass of water? How to correctly interpret the recent announcements by the Spanish Prime Minister about property taxes for non-EU citizens: Providing real estate investment management services to several non-EU based family offices, of course we received several calls a day after the Spanish PM made a statement which sounded - to say the least - surrealistic! Hence, we felt the need to explain what he actually meant to say, and more importantly, how it most likely will pan out... 1) What he meant to say: The Spanish PM mentioned ′increasing taxes related to property acquisitions by non-EU citizens to up to 100% of the property value′- according to reliable sources, what he meant to say was that the current property transfer tax of 7% of acquisition value, could be increased by up to 100%, i.e. to 14%. 2) How it will most likely pan out: - property transfer tax, currently 7% of acquisition value, is determined at regional level by the so-called ′Comunidad Autónoma′, i.e. not at national level; the regions that Saraya Capital′s clients invest in (Marbella (in the province of Málaga - Costa del Sol) and Madrid) are governed by the conservative party which is strongly against the proposed tax increases - the PM′s ruling party lacks a parliamentary majority... Please DM us for any questions you may have about investing in Spanish real estate and don′t believe everything you read or hear!

Green Light for Luxury Housing Project by Rafael Nadal and Abel Matutes Prats in Estepona, Spain Published by Bernardo Retana, 28 December 2024 This new development, located in the up and coming charming coastal town of Estepona, Marbella′s neighbor attracting quality seeking visitors and residents, allows for up to 50 high-end residences on the beachfront. The Andalusian regional government approves and facilitates the final approval of the proposal. One of the two major luxury residential projects led by the partnership of Rafael Nadal and hotel entrepreneur Abel Matutes Prats on the Costa del Sol has received the green light to proceed. The Andalusian regional government has issued a favorable environmental decision regarding the urban innovation plan proposed for the Los Llanos sector in Estepona. This milestone will enable the Estepona City Council to definitively approve the urban development in its upcoming meeting scheduled for January. The investment by the former tennis star and the hotel tycoon is once again a proof of the increasing popularity of the Costa del Sol, and in particular the town of Estepona. Since Mayor José María García Urbano started his first tenure in 2011, the town has developed into a modern oasis of quality living, attracting investors and residents from all over the world. #estepona #costadelsol #realestateinvestment #qualityliving #lifestyleinvestment

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