In 2022, Spanish households placed their savings rate at 7.2% of their disposable income, 6.6 points lower than recorded in 2021 and the lowest since 2018, according to the Spanish Statistics Institute (INE).
In a year marked by high inflation rates and a higher cost of living, Spanish families saved €58,457 m, 46% less than in 2021, while their consumer spending rose by 11.5% to €756,862 m, and investment increased by 13.7% to €59,291 m.
As such, households had a disposable income of €817,536 m in 2022, 3.6% more than in 2021.
The savings made by households were not enough to finance the investment they made in the year as a whole, so they showed a financing need of €1,753 m, compared with a financing capacity of €57,636 m in 2021.
Spain’s 100% tax on non-EUs: why it cannot be done
On Monday the 13th of January, Spain’s president proposed to levy a tax of 100% tax on home purchases by non-EU nationals (e.g. American and British citizens). This controversial announcement warrants a closer examination of its political motives, practical implications, negative effects and legal feasibility.
From Italy to USA: energy efficiency plans Spain should take note of
ING has released a report highlighting the pressing need to advance the energy transition within Spain's housing market. The bank emphasises the urgency of implementing measures to improve energy efficiency in the residential sector, particularly via public incentives and raising public awareness, drawing on international success stories, such as those in Italy and the United States.
Understanding property tax in Spain for foreigners
For expats and non-resident buyers aspiring to own a home in Spain there’s a lot to learn. From understanding property tax in Spain to learning about the mortgage process and interest rates, there’s a lot of information you’ll need to cover before you put an offer in on your dream home.
Spanish banks will offer instant transfers from January
Banks are set to begin offering instant money transfers at the same cost as standard ones starting next month, following the government’s schedule for implementing this European Union (EU) initiative.
What do non-residents need to know about Spain’s mortgage law?
Spain is a dream destination for property buyers, offering an affordable and desirable blend of sun-soaked beaches, vibrant cities, and charming countryside retreats. With its warmer climate, relaxing lifestyle, and accessible property market, it’s no surprise that Spain consistently attracts buyers from around the world.
