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Benefit from a 50% exemption from capital gains tax when selling property

The Government adopted a series of measures to boost the housing market. One such measure is that any property bought in an urban area between 12 May and 31 December 2012 will benefit from a 50% exemption from capital gains tax when the property is ultimately sold, whenever that may be. A further measure introduced by the Spanish government was the 50% reduction in sales tax on all new build properties, which created a flurry of activity earlier in the year.

Other measures are designed to encourage the rental of private homes, the Law of Urban Leases (LAU) and the Civil Prosecution has been modified, among other things, to enable homeowners to recover their rented property, even if their tenants pay the rent, and facilitate the processes of eviction in case of unliquidated payments.

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Published in Costa del Sol Property News |