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Real Property From The Developer

estateThe economic crisis, which broke out two years ago, severely hit the real estate market. First of all, the new real estate sector was hit by the builder. How could this happen to a market that has been successfully developed over the past 15 years?

The point is that the active development of the market inevitably leads to increased speculative transactions. Prior to 2009, investors were furiously purchased for further resale. Statistics showed a fantastic increase in demand, followed by increased prices and construction. The supply has worked hard to catch up and overtake demand. As a result, demand overestimation, the construction of an excessive number of facilities, the highest level of competition in the sector and market re-entry. The problem of marketing has had an impact on the country ' s banking sector. A very large part of the innovations was on credit money, and it was impossible to repay debts without buyers.

The Spanish media spoke of millions of " surplus " housing units available on the market. In such a situation, the loser and the winning party will be bound. The builders and speculators have lost, the banks can also be attributed to the injured party. Who won? Definitely buyers. Reduced prices due to reproduces, a huge choice of options, concessional conditions offered by developers and banks to avoid losing the buyer, all of which were in the hands of both Spanish and foreign nationals who chose Spain as a country of residence.

To date, a new one can be purchased at practical cost. Construction companies assist in the processing of mortgages, meet the buyer, offering favourable conditions and schedules for initial contributions, do not refuse bidding.

The Government also seeks to support and stimulate the new housing market. This year, the real estate of the developer, by virtue of its attractiveness, overturned the secondary market. On 19 August 2011, a decree was adopted to reduce VAT (IVA) from 8 per cent to 4 per cent in the purchase of new real property. The reduction of VAT means that the total cost of accompanying the transaction, including the above-mentioned VAT, notarium and registration fees, banking commission, etc., will decrease by about a third. Thus, if until 19 August of this year the buyer Real estate in Spain paid an average of 10 to 12 per cent of the additional costs over the cost of new housing purchases, since 20 August, the share of expenditure has been only 6 to 8 per cent. It means that now when you're buying a house in. Spain The total amount of the transaction would be reduced by approximately Euro80,000.

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