When in July 2010 was a significant increase in the number of homes said that the reason for it was the end of the tax deduction for home purchase that was going to implement from January 1, 2011 *, and the imminent rise in VAT. There was a general consensus among the "real estate experts" who usually lavished by the media, that home sales would grow up to pass the effect produced by the end of the reduction and the increase in VAT. But in the month of August, and until 2011, sales plummeted.
Now that home sales rebound, relates to them, once again, to the relief and the increase in VAT, it is interpreted that sales records of these months are previously closed operations, which still benefit from tax relief.
** as we have seen how all the hype put on by the end of the tax deduction for home purchase had little effect, and both potential homebuyers, such as major real estate information centers ***, were aware of it. You can not expect that in a country like Spain, where 60% of salaries are around 1,000 Euros, the elimination of a tax incentive gross salary of 30,000 euros per year involves a considerable impact on the sale of homes, in The measure is short range and is a little collection for the poor penetration of the same social, the vast majority is unaffected, and those with incomes much higher, nor has been a headache.
At the same time, a closer look at the sales data in recent months we see an increase in home sales VPO, which is designed precisely to moderate incomes which does not affect them to relief. Also, the annual data show home sales in 2008 negative growth (-32.6%) in 2009 (-17.8%), and in 2010 a return to positive values \u200b\u200b(+5.9%) , an increase in demand by foreigners of 2.9% yoy, indicating a general trend of ad hoc measures independent rate or tax.
But the really decisive for the evolution of house sales lies in the number of loans to potential buyers . We see the credits for the purchase of housing, (other than those granted to non-financial private sector), collapse from 2007 to reach a stabilization point and possible change of trend in the past year 2010 (down again Later that year, causing the drop in sales above), which would explain the slow but steady improvement in housing sales. Reasoning that the reduction of the award credit has been activated by the interest of potential buyers, who remained waiting voluntarily, based on the end of the tax deduction and the VAT increase is inconceivable, on the contrary, was precisely reduction drastic credit from the Bank which has made the plummeting house sales since 2007 and now that financial institutions have the need to dispose of the housing stock expanded portfolio accumulate, begin again to open the credit tap allowing the number of operations gradually return to a normal situation . The rest are stories Chinese.
MBQ Group
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