MPs have recently called for a cut on VAT from 17.5% to 5% on the price of repairing and maintaining a rental property to incentivise landlords to keep up with the maintenance on their properties.
The recommendation has been put forward by the House of Commons’ communities and local government select committee in their report The Supply of Rental Housing. The committee has identified that some landlords are struggling to keep their properties in good condition due to the high cost of refurbishment, (more…)
A report released by the National Association of Estate Agents (NAEA) has found that the property market picture is still very regional but elements of the market appear to be stabilising.
The NAEA report asked its members to comment on a number of key areas. The number of viewings made on a property prior to selling was 14, which has increased by two from this time last year. The average difference between asking and selling price was 4.7% which the NAEA saw as sellers becoming ‘more realistic’ with the prices (more…)
Property sales in Spain plummeted by -36.1% in March when compared with a year earlier, according to the National Statistics Institute (INE).
Official data in February also showed a -24.4% drop in property sales year-on-year. In March, there were 180,075 urban property transactions which is a -31.9% decline year-on-year and a -15.7% drop when compared to the previous month. INE believes that both figures could have been affected by the timing of the Easter holiday this year.
In addition, home loans declined by -41.9% in March from a year earlier to €9.975bn.