|
Archived Articles  Simeon Mitropolitski is a Canadian analyst, of Bulgarian descent, and former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with the hot political and economic topics, both Bulgarian and international. ("A Royal Solution." World Press Review. June 1997, provides English versions). He was part of the first group of Bulgarian intellectuals that began the opposition movement that finally put an end to the communist regime in the country, and in 1996-1997 participated in the international monitors' teams during the elections in several Balkan countries - Romania, Albania and Bulgaria. In 1999 he was among the few Bulgarian journalists that supported NATO military operation against Yugoslavia. In 2002 Simeon and his family emigrated from Bulgaria to Canada where they now live in Montreal, Quebec.
Global Real Estate Project
|
 |
Spain: Is the market really so calm?Spain is among the best performing EU countries in terms of real estate appreciation. In last year the average prices went up by 13-14%. In the last 10 years they went up by almost 250%. For this and the following year nobody predicts market bursts. And yet not everything is as rosy as it may appear looking at the raw numbers. Not all investors enjoy the same capital gains. Some even are glad if they can sell without losses. Despite the growing demand some may see their benefits declining due to more demanding taxation policy. This Iberian country stands up at the top of the list of best performing West European residential markets. The total numbers still show increased interest from both local and foreign investors and from people just looking for more sunshine. Especially numerous are the new buyers coming from the United Kingdom. Running away from the prohibitive prices in their own country, the number of British nationals owning piece of Spain is approaching fast the mark of 1 million. With no real danger that the prices in Spain may anytime soon get too close to what we find in Britain, the expectations are that there will be more newcomers to the Spanish market. Those who have bought in Spain looking for ever and ever increasing capital gains may however be a bit disappointed nowadays because the prices don't tend to go up at the same speed across the country. Actually the best performing markets in terms of appreciation are away from the overcrowded coastal areas. In some of the latter the prices don't move so fast, in some they even have dropped a little during 2005. At the same time some inland areas that weren't considered to be very interesting up until recently are exceeding the national average. The paradox is that the areas with least capital gains now are better developed in terms of agencies coverage and thus the potential buyers are more frequently solicited to buy there. For those who don't worry about selling soon this lack of appreciation may not be a problem at all. For all the rest a good market research will save many headaches later. An additional worry concerns those, foreigners and locals alike, who have bought residences in order to lease them temporarily or permanently. The Spanish tax authorities are seriously looking for undeclared incomes and unpaid taxes these rental properties are providing to their owners. People who have made their first calculation without counting payments of these income taxes should do it again including them. Just for the sake of precision, and without wanting to spoil anybody's holiday season, the rental incomes received by non-residents are subject of flat-rate tax of 25%.
Spain country profile: --------------------
See also the directory of companies providing real estate services in, and general real estate information of Spain.
|
See also: