spain property experts hopeful of new stimulus package
News Posted On: 22 November 2011
Spanish property experts are hopeful that the recently elected government will quickly enact stimulus packages, tourism initiatives and new tax cuts to help boost the economy. Many are hopeful that the incoming party will reduce taxes for the housing sector, including property sales tax.
They also think a major stimulus package for the tourism industry is necessary, especially as this type of initiative is already proving successful at a regional level in the Balearics.
Apparently the Spanish government is also due to sell-off huge numbers of assets including land in prime locations.
Two of the major problems facing Spain are youth unemployment and the black economy. Youth unemployment is nearly 45%, and people are expecting to see a stimulus package to reduce Social Security payments for employers taking on young people.
It is also estimated that a huge percentage of people don't actually pay the correct amount of tax, and that the country could be losing billions of euros to the black economy.
Property experts think the Spanish government should launch a major PR campaign to win over potential investors, especially as the country still has lots going for it. Property is relatively affordable, Spain enjoys some of the best weather in Europe, and travel to and from the country is easy.
Many people are critical of the last government and feel it did very little to help the property market. They feel that what little was done was far too late, and are hopeful this new government will finally begin building a recovery.
View property for sale in Spain
Article written by Liam Bailey
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