Having only vacationed in Spain, I've no idea what the permanent residents pay in taxation tribute. Would you give us an update on that facet of expatriation?
Is owning or renting a better go?
Thanks.
The vast majority own their own homes or apartments. This has been the pattern in Spain for many, many years. Which does have its drawbacks as it is difficult to get rid of old apartment blocks when you have to negotiate with all the owners. Builders of new apartments, build, sell and move on to the next project.
Renting is left to the individuals who rent their own apartments, or for local government subsidized apartments. Of course in the major cities rent control, introduced during the civil war, made every one leery of renting anything.
In the last three years they have built apartments for over 4000 residents here in little Sada – all for sale. I own two apartments in the same building and the local taxes are not a problem, amounting to a few hundred Euros annually. I am not up to speed on home ownership but taxes never seem to be a big item here for home ownership either.
Maintenance fees, on the other hand, can be quite heavy in some places- Of course Income Tax is an entirely different matter.
But now that the housing market, like that in most of the world, has gone through the roof, and as interest rates are low, there is an incentive for builders to rent for a few years before selling at a much higher price. I know the Locales ( ground floor spaces,) that used to be sold to businesses, bars, stores etc. can’t be bought at any price they are all for rent now, especially in prime locations.