Spanish Economic Growth Continues to Fall
Latest statistics from the Bank of Spain indicate that economic growth during the first 4 months of 2008 has fallen short of expectations. This fall to an annual equivalent rate of 2.8% is blamed largely on external factors, specifically the international financial crisis. While most sectors of the Spanish economy suffered, the construction sector on which the economy has a significant reliance when compared with other European economies, was highlighted as the one that had suffered most and this in turn was the largest contributing factor to the slowdown. On a more positive note the Government chose, perhaps reasonably, to highlight that, even at these reduced levels, Spanish economic growth remained higher than in most other major European economies and that the Bank of Spain's figures added support to the Governments own projections for the whole of 2008, which is an annual growth rate of 2.3%.
Our features...
Spanish Wealth Tax Abolished
A little bit of good news for embattled Mallorca property owners and buyers. The Wealth Tax (Impuesto sobre el Patrimonio) payable annually for all properties in Spain has been abolished with effect from the 01/01/08... More »
Spanish Inheritence Tax / Succession Tax
Spanish inheritence tax is a complicated business based on the different relationships between the donor and the receiver. Particularly at risk are unmaried couples and step children.... More »
Spanish Economic Growth Continues to Fall
Latest statistics from the Bank of Spain indicate that economic growth during the first 4 months of 2008 has fallen short of expectations. This fall to an annual equivalent rate of 2.8% is blamed largely on external factors, specifically the international financial crisis.... More »
Spanish Economic Growth Slows
One of Spain's largest banks, the Santander (owner of the Abbey in the UK) estimates that Spain's economic growth for 2008 will be a still robust 2.5% although down from the actual 3.8% growth for 2007.... More »
Spanish Government To Help Homeowners Extend Without Cost the Length of Mortgage Terms.
As part of a package of financial incentives aimed at confronting the economic slowdown, the Government announced last week that homeowners will be permitted to extend the term of their mortgages, thus reducing monthly repayments, without any notary or land registry fees.... More »
