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New Wealth Tax Proposal in Spain – Is it for real?

New Wealth Tax Proposal in Spain – Is it for real?

Is there a real chance for the radical new wealth tax proposed by Podemos party? In the last couple of days fears have increased upon the new wealth tax proposed by the coalition government’s far-left Podemos party. The creation of a wealth tax is one of the main objectives of Podemos regarding a tax reform, […]

Deconfinement Process in Spain – (Part 3)

Deconfinement Process in Spain – (Part 3)

The 45,000 residents of the four Spanish islands that are leading the way towards the so called “new normality” entered Phase 2 of Spain’s coronavirus de-escalation plan this Monday. People living on the Balearic island of Formentera, on the Canary Islands of La Graciosa, La Gomera and El Hierro, are now able to take walks […]

The European Court’s response on IRPH mortgages has been announced, which will now lead to a flood of complaints.

The European Court’s response on IRPH mortgages has been announced, which will now lead to a flood of complaints.

Many mortgages in Spain are affected by IRPH (Mortgage Loan Reference Index). This index, unlike EURIBOR, has remained constant and kept rising, making loans more expensive without the possibility of benefiting from EURIBOR’s significant decreases. The IRPH, even today, is two percentage points above, while EURIBOR’s figures remain negative. The Judgement by the European Court of […]

The Effectiveness of Contracts in Situations of Force Majeure and the Application of the “rebus sic stantibus” Clause – an article by Pellicer&Heredia Abogados

The Effectiveness of Contracts in Situations of Force Majeure and the Application of the “rebus sic stantibus” Clause – an article by Pellicer&Heredia Abogados

What is its impact on home buying? Our doctrine defines force majeure as an extraordinary, unpredictable, and unavoidable event. According to this definition, there is no doubt that the situation created by the declaration of the State of Alarm based on the protection of Public Health against COVID 19, is a case of force majeure. As is […]

Deconfinement Process in Spain (Part 2)

Deconfinement Process in Spain (Part 2)

From the 11th May on, half of Spain has entered Phase 1 of the de-escalation process, while the other half of the country remains in Phase 0 at least one week more. You can get more information on the different phases from our previous article. Currently it looks like this: This decision of the government […]

Deconfinement Process in Spain (Part 1)

Deconfinement Process in Spain (Part 1)

There are many clients and agents asking how life will be in Spain in the near future and what is going to happen to the real estate market. These are two questions that – although there is a kind of roadmap recently sketched up by the government – the Spanish as well are very keen […]