Financial advice in Spain

Springtime is almost upon us, it is once more the time of the year in which Mother Nature paints the countryside in bright yellow colours, animals are keen to display courtship behaviour, and humans drive estate agents nutty on looking for a brand-new home! Ironically, one of the best times to redu

If you're buying property in Spain and are planning to take out a Spanish mortgage, whether you're from Spain or not, then you may have heard "Euribor" mentioned a lot by Spanish banks. But what is Euribor and how will it affect you if you take out a Spanish mortgage?

The “Modelo 720” form, is a basically a declaration of overseas assets for people living in Spain, that is to say, assets held outside of Spain.

The European Commission's new growth forecasts for 2021 and 2022 place Spain at the head of the recovery in the EU. The EU has raised Spanish GDP forecasts from 5.3% to 5.6% for 2021 and from 4.8% to 5.3% in 2022, although without yet recovering its pre-pandemic gross domestic product.

All non-residents who own property in Spain are obliged to pay Non-Residents' Income Tax (IRNR) once a year.

Real estate throughout Europe continues to prove itself as a safe-haven asset in times of crisis.

The unemployment rate in Spain in 2020 rose to 16.13%.

Unbeknownst to scores of foreign Spanish residents, there is a tax obligation to file tax form 720 if you own assets abroad in excess of 50,000 euros. Legions of foreign property owners, who are resident in Spain, may ignore the existence of this tax obligation.

2020 was a difficult year for the tourism sector in Spain, including the area of holiday rentals.

A recent Parliament session in Spain has amended the 2018-2021 State Housing Plan in order to speed up  the process and increase its coverage to encourage renting and property renovation or refurbishment.

Unbeknownst to most non-residents, on buying property in Spain, you automatically become liable for a series of property-related taxes.

You may be mulling the idea of acquiring a Spanish property taking advantage of today’s ultra-low prices - but you need a mortgage loan.

If you are serious about buying a property in Spain, then as well as carefully searching for the right property, it is also highly important to do your research when it comes to getting a mortgage in Spain if you plan to ask for financing.

The coronavirus crisis is already showing its economic consequences and is going to cause a severe recession throughout the world, although the economic impact leaves Spain as the developed country that is going to suffer the most this year, while China will be the only country that manages to

Experts have been saying for years that negative interest rates will be around for a while. And, according to Gonzalo Cortázar, CEO of Caixabank, this scenario could continue throughout the decade.

All homes in Spain must have home insurance. Home insurance is important to consider if you are buying a property in Spain.

In these challenging financial times, a lifetime loan (LTL) is a life jacket that offers a financial opportunity that not many borrowers are aware of. It is a type of loan available only to resident senior citizens.

The employment specialist website Jobatus has carried out a study that points out the drop in demand for professionals in certain sectors in July compared to the same month in 2018 and 2019.

The Spanish Government has recently approved a guaranteed minimum income scheme (“ingreso mínimo vital”) set to help 850,000 of Spain’s most vulnerable families amounting to around 4.89% of the population.

The president of the Santander bank in Spain, Ana Botín, has announced that the bank is leading a project, together with the construction sector and the ICO ("Instituto de Crédito Oficial", a public bank attached to the Ministry of Economy and Business), to promote access to housing for young people

Some trade associations are advocating the same freedom of opening that the sector already enjoyed during the 2008 crisis.

The COVID-19 crisis has taken its toll on the Spanish holiday home market, along with so many other economic implications.

The time has once again arrived for taxpayers in Spain to consult their tax data online or on the Agencia Tributaria app run by the Spanish tax office.

The Spanish government already has a first estimate of what the impact on public accounts may be due to the measures introduced to help vulnerable rental tenants that were recently announced. In total, the effect of the rental subsidies will be around 800 million euros, including micro-loans f

For the time being, the COVID-19 crisis has not changed the risk criteria for mortgages in Spain. The banks have kept their eligibility criteria stable and the current situation has not had an impact on the offers they have for their clients.