Offplan tax break homes in Spain from £32,000
By Kevin Barnett, 15 Mar 2006
Brand-new bay view apartments for £32,000, spacious, luxury townhouses in the Benidorm Hills for £68,000 and a top of the range family villa with private pool in hot, hot Costa Almeria for a mere £110,000 – just some of the 1,000s of affordable homes in Sunny Spain available through Libertad, a new buying concept being launched by PropertyInSpain.Net, the leading online Spanish property specialists.
Libertad tax break buying comes with a co-ownership option for families and friends to buy the freehold between them and share the costs, delights of regular holidays in the sun and the rental income when they can’t be there to use it themselves. It’s not like timeshare or holiday bond homes as everybody owns the fully notarized and registered freehold.
The prices above are per person, based on three families or friends buying together. That’s called a Libertad 3 but two couples can buy together or workmates. They need only around £10,000 in cash each to get on the sunbelt property owning ladder because Spanish banks have set up in London to provide 48-hour pre-mortgage offers on a low interest 70% mortgage - less risk if three or four people are sharing the buying costs.
Taxes due are paid - after all alowances
And Libertad is 100% legal under Spanish and EU law because it outlaws “black money”, shady deals and makes it easy for all the owners to pay any taxes due in Spain. Like all Spanish natives they get a personal gestoria to deal with the town hall, utilities and Spanish tax man to make sure they claim back all the tax breaks they are entitled to and pay over what’s due when it’s due.
An individual family can still buy a Libertad home and benefit from the tax breaks -20% off capital gains tax for a start and no inheritance tax – and choose from 11,000 new, offplan and resale homes across 10 Costas plus Spanish islands, Lanzarote, Ibiza and Mallorca. Already there are 3,000 carefully selected new homes on offer with state of the art kitchens, lots of sunshine space like solariums and balconies with sea or mountain views. Developers are queuing to offer their finest homes in favourite resorts priced from £88,000 or around £22,000 per person on a Libertad 4 plan with family, friends or colleagues co-owning the freehold.
Libertad is the brainchild of leading Google-ranked specialist website, PropertyInSpain.Net based in London and Madrid, with area affiliate offices in all the prime second home Costas negotiating the best deals from leading developers and looking after buyers on view trips to select their Dream Homes.
Best developer deals for Libertad
Said CEO, Terry Walker: “We were working with the Confederación de Española de Cajas de Ahorros (CECA) association of 46 leading savings banks in Spain, to provide a SIPPs in Spain service for 1,000s of Brits wanting to use their pensions to buy sunbelt homes. We had unlimited mortgages available and many of the top developers offering their very best properties for UK pension buyers when the Chancellor of Exchequer pulled the plug on property buying with SIPPs.
“With many families still looking for tax break buying in Spain we found dozens of tax allowances that the Spanish were enjoying that matched those promised in SIPPs buying. In one case, a massive saving of 20% on capital gains. Spanish accountants and lawyers just kept on finding the tax breaks, so we decided to call it Libertad – because it offered more freedom to buy, rent and sell than did Gordon Brown’s original SIPPs scheme,” he added.
The firm thinks its Libertad 3 plan will be a top seller because it shares the costs among three family members or friends and everybody will enjoy at least 100 days of sunshine a year, rotated with co-owners, and the villa or apartment can be rented out when it’s available.
Domingo Diaz Carrillo, Jefe de Departamento of Caja Murcia bank said: ”As PropertyInSpain.Net already manage our online network of 840 property outlets in Spain, we are natural partners in the Libertad programme because we can bring blue chip, fully legal developments in which the bank has invested and provide mortgages to UK and other northern European buyers using Libertad.”
Other Libertad partners include Travelex and Halo Financial providing low cost currency, Solbank/Banco Sabadell, CAM Bank and Spain’s third biggest bankers, La Caixa, leading Spanish insurers Ocasa and Siemens Smart Homes for remote security and control.
PropertyInSpain.Net are based in Alicante, London and Madrid.
Telephone 0870 837 0034. email info@propertyinspain.net skype propertyinspain.net
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