The Council of Ministers recently approved the Real Estate Credit Bill which aims to reduce the costs associated with changes in mortgage contracts and strengthen transparency in property purchase processes. The proposed regulation lowers the commissions for early cancellation of variable rate loans until they are eliminated after five years of the contract’s validity. The […]Continue reading
The news related to the tourist rental in the Balearic Islands doesn’t stop happening, in the last days the most repeated word in this regard has been “zoning”. Recently, the “Consell de Mallorca” has announced the implementation of this zoning action that will limit to 60 days a year the tourist rental in plurifamiliares and […]Continue reading
The year 2017 stands out for two fundamental facts: the acceleration of demand and housing prices throughout the country. The growth in the number of sales is revealed through four premises: The closing of buying and selling operations during the first half of the year, becoming the highest figure since 2008. In the last quarter […]Continue reading
If you intend to purchase a property in Majorca from a foreign country like England or Germany, you should consider that both the jurisdiction and the processes to be carried out and the roles of professionals involved in it are different. Buying a property in a foreign country can be a complicated affair and fraught with […]Continue reading
Summary of the correct way to tax for single-family homes with valid or provisional license registered in the Ministry of Tourism of the Balearic Government. First, we must consider that the rent and sale of housing is in principle exempt from VAT. However, section “e’” of article 20.1.23ºb of the LIVA establishes that this exemption […]Continue reading
The Supreme Court of Justice of the European Union (CJEU) sentenced last December the Spanish banks to pay back all the money overcharged for the floor clauses, eliminating the non-retroactivity set by the Supreme Court (TS) in May 2013 and which limited the refund of what was charged in excess as of that same date. […]Continue reading
