Latest News and Blog
Please find below hot of the press our Latest Real Estate News and Weblog.
Non-residents tax cuts
As of January 1 2007, the capital gains tax for non-resident has been reduced from 35% to 18%, to the delight of foreign home owners and property investors.
The change, enforced by the EU, is a welcome incentive for those looking to invest in Lanzarote, as well as those who have bought property in the past and are now looking to maximise their selling profits.
The new reduced rate of 18% means buying property in Lanzarote now is even more attractive than buying in other markets such as Ireland, where the capital gains tax is levied at the higher. This has encouraged many Irish buyers to look to the future and minimise capital gains exposure by investing in the attractive Lanzarote property market.