Is the Purchase of a Property in Sotogrande an Asset?
BUYING A HOME IN SOTOGRANDE COULD BE AN ASSET – for both homeowners and investors.
The rental market in Sotogrande has always been a fraction of the sales market, but with rental demand growing significantly and the lack of inventory, this sector could begin to grow and become an interesting asset class for both homeowners and investors. Return on investments is increasing to more interesting levels, and if high inflation begins to erode savings, assets of this type provide an ideal vehicle to stay ahead of cash depreciation.
If you would like to know more, please contact me charles@noll-sotogrande.com
GOOD NEWS! WEALTH TAX SCRAPPED IN ANDALUCIA
Further, the Andalusian government has announced it will abolish the wealth tax (Impuesto Sobre el Patrimonio) applied to wealthy resident and non-resident homeowners in the region. They have had to pay this levy on their worldwide assets. As a way to attract investment to the region, as people with high incomes will spend long periods in Andalucía, and help develop economic activity and employment. It was also announced a reduction in the rate of income tax and the cancellation of the water tax in 2023. Read here for newspaper articles in English, and Spanish: SURINENGLISH y DIARIOSUR.
If you would like to receive more information about this matter and how it may benefit you, please contact me charles@noll-sotogrande.com
