Britons find investing in Spanish property easier than at home
A report has highlighted the advantages of buying property in Spain, asserting that investors find it easier than purchasing domestically.
The report, conducted for Lar Sol, showed Spain to be the first option for a third of Britons looking for overseas investment, and half the people who have invested in the country would reinvest their profit in the same market, SPS reports.
"SpainÔÇÖs economy is booming, growing at twice the rate of its European neighbours," asserted Katy Katani of Lar Sol. "This surge has been fuelled by low interest rates and an unprecedented demand for property.
"The government is taking several steps to ensure this continues, by introducing cuts in income tax and corporate tax, by planning to reduce the number of tax bands on Spanish property and to eradicate income taxes on mortgages," she added.
The report also showed that 30,346 British citizens signed working contracts in Spain last year, and the high level of expatriation is positive for British investors in the country.
"British people like to buy from British people and as more and more Britons move to Spain, they are creating a sustainable network of potential clients for British businesspeople," Ms Katani added.
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