Written by Consuelo R from Prada

Mortgage loans: differential to 1% or less?

After a few years with differentials in the 3%, it seemed impossible for us to approach 1% again, but that moment is already here or almost (obviously, far from the Euribor + 0,45% of "those wonderful years")

In the last Real Estate Exhibition in Madrid (SIMA), Luis Corral, CEO of Foro Consultores, said that the spreads would be close to 1% at the end of the year. Other experts believe that 1,5% will be around and in that band will move during 2015. Recall that el difecial Is the percentage added to the reference rate agreed, eg: Euribor + 1.

There is little more than a month left for 2014 and The banks have given another twist To their mortgages with downside spread to 1,6%. Bankinter and ING They are among the most active in the market and look at each other to see who goes down the most and before. They are entities that lead the fight to get new customers, perhaps because they have been less exposed to the cyclone real estate and start in better positions. All with the permission of Kutxabank or Caja Sur, which maintain offers at levels very close to 1%, an unknown reference in recent years. Of course, it requires fulfilling some important conditions. Santander y BBVA They will probably be the next to move tab.

These "struggles" come very well to consumers who see how the range expands and the financing tap opens after years closed. Obviously, everything has a small print that is advisable to keep in mind so as not to bring surprises, Because you have to look at more things than the differential.

And while banks are still selective when it comes to lending, at least we have climbed another step and, even if it is slow, mortgage finance is flowing and that is seen in the buying and selling of housing that grows, especially second-hand housing Which has been very halted, in part, for lack of mortgage loans.

Written by Consuelo R from Prada

Madrid becomes the locomotive of the market

The Madrid market for residential land is in full swing with the cooperatives at the head of the race. In the capital 3.000 new apartments are planned in the best areas of the city. Many of these houses will be built on soils from the different administrations that have been auctioned.

Some star plots such as Raimundo Fernández Villaverde and the old Metro cars in the neighborhood of Cuatro Caminos, have already been awarded. The Domo and Group Ibosa, Respectively, have won the auctions and in them they will make dwellings in regime of cooperative and At affordable prices. Pryconsa, on the other hand, has stayed with Buñuel Studios, in the northern area of ​​the capital, where houses will also be built.

But not only the lands of the administrations, other floors that the crisis had left paralyzed are again in the market as is the case of a plot in Juan Bravo street, in the Salamanca district, where fund manager Pimco and Group Lar will complete a luxury residential building.

Of course, in this takeoff of the market there is a relevant aspect: The floors are in good locations and with competitive prices. To this is added that the Houses in stock in the community of Madrid are descending significantly and it is expected that 2015 will reduce that offer by around 40%, hence the need for more new work.

This situation indicates that there is a trend change in the residential real estate market, there is movement in the best areas of Madrid that is also moving to cities like Barcelona and Seville.

Written by Consuelo R from Prada

So, do I sell or wait?

After many bickering, Hacienda has stepped back a step. It has reduced the fiscal "ax" in the sale of houses and in the payment for the generated capital gains. But it is necessary to clarify that this change It does not affect the sale of habitation, Provided that it is destined to the purchase of another, also habitual residence.

In the initial draft, which we already have in this post, the blow that was given to the capital gains was very important, hence the commotion that has been armed. Until now, when someone sold a house, taxed by the surplus value achieved in the IRPF, but with tax benefits. The Government wanted delete In a stroke all the correction coefficients that had until now and hence the exponential rise of the tax.

And now, what is it all about?

Following the latest changes, the Tax Reform Which will take effect January 1 2015 suppresses the updating coefficients and limits the coefficients of depreciation to sales below 400.000 euros. And the tax rates that will be applied on real estate gains will be reduced in 2015 and 2016. The aim is to make the tax less burdensome.

As explaining is quite complex before the maremágnum of figures, it is best to go to the new calculator that has created the Five day diary With all the changes and include the data of the dwelling in question and you will know The tax cost of selling your home before or after the tax reform.

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