By Majorca Daily Bulletin reporter
The Balearic government is considering raising the tax rate on sales of homes valued at more than three million euros in an effort to raise additional funds.
At the moment there are more than 2,600 homes on sale across the Balearics with a price tag in excess of three million euros. Under government plans the tax rate will rise from 11.5 to 12 percent on sales of homes in this price bracket.
The Balearic government claims that the move will have little impact on the market but real estate agents disagree stating that any rise in tax is never good news and will make some buyers think twice.
The Balearic has one of the largest numbers of luxury homes in the country.
August 29, 2022 at 12:27PM
via Mallorca Daily Bulletin read more...
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