New Build Property Tax reduction

[Beachbabe]

Does anyone know if the property tax reduction form 8% to 4% for new build properties applies to properties bought from the bank, or if only bought from a developer ? How is is attributed exactly ? Does 'new build' mean not previously lived in, or not previously registered ?

[MrGrumpy]

My understanding is that it is for properties which are previously unregistered, or have been issued with a cedula.

[Mekon]

That is my understanding aswell, but knowing Spain I would n't be at all surprised if that logic was completely backwards and it meant something else altogether.

[NowayJose]

My understanding is that it is for properties which are previously unregistered, or have been issued with a cedula.

I believe so, but there seems to be a distinct lack of any concrete information on this subject coming forward from the government as yet

[MitchTheBuilder]

The 8% to 4% tax reduction applies only to newly built properties and NOT to any resale or second hand / previously registered property (IE lived in for any period of time)

[Beachbabe]

The 8% to 4% tax reduction applies only to newly built properties and NOT to any resale or second hand / previously registered property (IE lived in for any period of time)

So how does that encourage the property market as a whole, if it only reduces taxes on new build properties and not resales ?

[MitchTheBuilder]

So how does that encourage the property market as a whole, if it only reduces taxes on new build properties and not resales ?

The short answer is that it doesn't.

In my opinion it just takes the pressure of Banks, who are the ones that are largely stuck with this glut of unsold / New properties at the moment. If anything it is pain in the backside for those trying to shift resale properties.