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As we enter the second quarter of 2012 we are definitely seeing signs of increased activity in the property world here in Mallorca, I'm pleased to say. Nevertheless it is still the high end of the market where there is most activity.
There used to be a TV show "Rowan and Martin Laugh-in" with Goldie Hawn among others and the "signing off " was " And now for the news without whom the news wouldn't be the news - heeeere's Goldie !" - see
http://www.youtube.com/watch?v=4b7BGBa6MTI
So here is the NEWS ¡ |
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NOT GOOD NEWS - NEW PROPERTY TAXES | |
One dampener on our spirits is the introduction of new rates of ITP (Impuestos Transferencias Patrimoniales) or the equivalent of UK Stamp Duty. The Balearic Government will increase the rate of this tax according to the value of the property. Until now 7% was the going rate but from 1st May it will be increased to 7, 8,9, and 10% as below:
Transaction value
0 - 300 000 € = 7%
300 000 - 500 000 € = 8%
500 000 - 700 000 € = 9%
700 000 € and above = 10%
The calculation is somewhat complex but broadly speaking follows the above. Therefore all properties at say € 2 million will now carry a penalty of an extra around € 40 000 + extra cost to the buyer.
My guess is that other provinces in Spain will soon adopt similar measures.
So enough of BAD NEWS! We all read it everywhere every day anyway
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GOOD NEWS 1 TOURISM IN MALLORCA | |
The tourism market in Mallorca is doing well with bookings up and most hotels with high levels of reservations from Easter onwards. |
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GOOD NEWS 2 MALLORCA CLASSIC CAR RALLY
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This year's Mallorca Classic Car Rally was a great success based for the first time in Puerto Portals.An array of some 82 elderly cars including one Mercedes 300SL Gullwing, my Mum's old Ford Anglia, and a host of Porsches and others. See
http://www.rallyislamallorca.com/videos.aspx?idi=ing
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GOOD NEWS 3 HOUSES ARE SELLING !! | |
Houses with sensible prices are selling albeit with some discount and there has been an improvement in the sales of new apartments from some of the major developers such as Marina Plaza, Las Milanas, and Espacio group. |
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GOOD NEWS 4 TRANSFER TAX ON NEW PROPERTY | |
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New developments only have a transfer tax of 4% as against the 7, 8, 9, and 10% on re-sales. |
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GOOD NEWS 5 MJC ASSOCIATES LONDON PRESS EVENT | |
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Las Milanas Espacio Marina Plaza
Pto Andratx Pto Cristo Palma - Portixol
IBERCON :- New villas near Santa Maria
In association with Savills MJC Associates held a Press Briefing at El Pirata restaurant in London. Attended by several prominent journalists and four Mallorcan developers we extolled the virtues of Mallorca and made the point strongly that Mallorca is very different from mainland Spain and that all four of these developers are starting new projects evidencing their confidence in Mallorca.
From Left to right:
Raquel Zapal - Las Milanas
Nuria Puig - Marina Plaza
The MJC Team - MJC Associates
Joan Santandreu- Espacio
Adam Lewczynski - Pentagon Estates
Savills International - Charles Weston Baker and Joanna Leverett.
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NEW PROPERTIES FOR SALE | |
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FOR MORE INFORMATION CLICK ON THE PICTURE
12008 - Santa Ponsa
06086- Santa Ponsa
08046 - Campanet
09053- Son vida
10006- Son Vida
10046- Esporles
10063- Son vida
10064-Pollensa
10066- Pollensa
10068- Son vida
11070- Alcudia
11075 - Santa Maria
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QUOTE | |
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And now some light relief
"Interviewer: What would happen if Margaret Thatcher was run over by a bus?
Lord Carrington: It wouldn't dare.
The politics of travel
"It's great to be back on terra cotta."
John Prescott
"I wouldn't mind dying for France, but not for Air France."
Charles de Gaulle, following a bumpy flight
Joys of youth
"I much prefer travelling in non-British ships. There's none of that nonsense about women and children first."
Somerset Maugham
"Airline hostesses show you how to use a seatbelt in case you haven't been in a car since 1965."
Jerry Seinfeld
Twitter
"First Iceland goes bankrupt. After then it sets itself on fire. This has insurance scam written all over it."
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The finest properties in Mallorca
