Spanish developer promises to cut VAT
More good news for potential buyers looking to buy a new property in Spain developer Taylor Wimpey de Espana is planning to match the government’s promise of a 50 per cent VAT reduction on new properties.
The Spanish government recently announced new incentives aimed at the new homes market in an effort to kick start the very sluggish home building industry. By halving the amount of VAT payable on newly built homes officials are hoping to see a surge of new buyers joining the Spanish property ladder.
With the extra offer of a further 50 per cent VAT cut on homes built by Taylor Wimpey property investors will save thousands of Euros buying a tax free home in the sun.
Experts believe the tax cuts will help to revive the ailing property market and may persuade potential buyers that are currently undecided about buying a new property in Spain.
The developer’s discount offer runs until the end of the year.