The Government shall increase from 1 January 2013 a VAT of 10% (reduced rate) for the purchase of new housing, compared with 4% today (super-reduced rate).
In the press conference after the Council of Ministers, the Minister of Finance and Public Administration, Cristobal Montoro, recalled that the application of super-tax (4%) for the purchase of housing had a 'termination date'.
The Government extended "temporarily" earlier this year, the super-reduced rate applies to home purchases, a measure that was adopted in August last year, by the previous Socialist government.
On buying a new home in spain you'll be saving 6% if your purchase occurs before the end of the year.
If you require finance, the application and approval can take 6 weeks; any visit or puchase should occurr within the next 2-3 weeks to get in before the end of the year VAT increase.
If you wish to book a trip and view some of our new developments in Murcia, Alicante or Almeria, be it golf or beach property, please liaise with us as the earliest moment of your convenience so we can organise and coordinate with you.