It's one of lime and one of sand for Spain's current real estate market scenario.On a negative note, we find the European Union's harsh criticism of Spain's fiscal policy, especially regarding tax deductions for home-buyers.
We should soon witness to what extent the possibility of a Spanish bailout — which still clouds Europe's skies — or the inevitable recapitalization of Spain's banks, mark government policy regarding tax exemptions for home buyers, a likely rise in the VAT rate or a further adjustment in housing prices. With this outlook, Europe's request may soon become Europe's demand.
On a more positive note for mortgage payers is the decrease of the Euribor rate in the month of May. As you can see the good news fits into just one, short sentence.
For the full story (in Spanish):
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