Available to Export : Spanish property market boosted

Brand new , key-ready properties on Spain's Costa Blanca are getting significantly the more attractive choice to overseas inventors , thanks in part to the local government most recently making it more expensive to purchase re-sale real estate there .

"The local government of Valencia , home of the Costa Blanca , increased transfer tax ( ITP ) on re-sale real estate to ten per cent from eight per cent from the beginning of this month . The region's northern neighbour , Catalonia , has made the equal change ," Richard Way , Editor at The Overseas Guides Company said .

"ITP isn't levied on new-build property , however VAT ( IVA ) is suitable , as well currently at ten per cent ( as well as stamp duty ) . Records from estate agencies are of new projects starting to come on line in the Costa Blanca , therefore with re-sale becoming dearer , new key-ready homes are generally on the radar of overseas buyers .

"At the same time period , latest statistics from Valencia's regional government revealed that pretty much 50% of all property sales in the first 3 months of 2013 were to foreigners - an exceptional degree and a sign of just how beneficial the international market is to Spain's real estate market along its Costas