The Spanish city of Valencia is set to host a round of the FIA Formula One World Championship next year. The race, to be known as the European Grand Prix, will be held on a newly-constructed harbour-side street circuit.

A seven-year agreement was announced recently at a press conference attended by Formula One Management CEO Bernie Ecclestone, Valencian government's President Francisco Camps and Valencia's mayor Rita Barbera.

Valencia’s Mediterranean backdrop will provide a spectacular setting for the new track. The city, currently hosting the America’s Cup sailing event, is becoming very popular for large events in the sporting world and consequently is achieving a higher profile around the world.

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Now is a good time to buy the house of your dreams!

Exchange rates are unusually high at the moment !!! - as of 11.30 (GMT) this morning:

1.00 GBP = 1.52149 EUR
UK Pounds Euros


If you haven`t already done so, book your house-hunting trip to Spain now!

As from 1st January 2007 there are changes in the capital gains tax laws in Spain which favour non-residents of Spain wanting to sell their property.

The amount of tax payable by non-residents on the profit from the sale of their property is reduced from 35% to 18%.

Also, the percentage of the sale price which non-residents will have to leave with the notary to cover their potential capital gains liability is reduced from 5% to 3%.

Did you see the programme last night? Amanda Lamb was listing her "top twenty" places to invest for 2006. Details of her "top ten" places are given on Channel 4´s website from which I quote below.



Amanda says...

'My top 10 are all good bets and should give a decent return'


At number 4 in the list is Valencia:

"Easy to get to from the UK, Valencia is a fantastic spot for a city break or weekends away. It’s been awarded the America’s Cup in 2007, so the government is putting millions of Euros into regenerating the city. At the moment, apartments there are rising in value at up to a staggering £4,000 a month. If I had to pick my top buy for an instant return, it would be here. If you get off the mark and buy fairly quickly, it will have gone up dramatically within a couple of years."

Shouldn't you be looking to invest in or around the city of Valencia in the near future? If you´ve found our website you've come to the right place!!!

Capital Gains Tax in Spain is due to change. On March 10th 2006 the Spanish government passed the personal income tax bill which partially modifies the following tax laws: corporation tax, non-resident income tax and wealth tax. It is intended to ensure that residents of other European countries do not pay more than Spanish residents in similar tax brackets. One of the most significant changes that will affect non-resident income tax from 2007 onwards will be the significant reduction from 35% to 18% of the capital gains tax applied to property sales or transfers. It is important to note the with-holding tax will be reduced from 5% to 3%.


In addition, the Personal Income Tax bill establishes that Capital Gains tax arising from the sale or transfer of property in Spain by persons over the age of 65 and persons who are considered to be in a situation of dependence shall be exempt totally from capital gains tax.


However it should be noted it should be noted this only applies to residents in spain and therefore does not apply to non-residents, meaning non-residents aged over 65 will still be liable to pay capital gains tax on the profit of selling their home in Spain