As The Spanish Brick announced in March 20015, Manuela Carmena, the mayor of Madrid, has declared ithis month (September 2016) that there will be a "significant" 2016 drop in Madrid Property Tax (Impuesto sobre Bienes Inmuebles or IBI) for 2016 but has not yet specified the exact reduction because it is "under study". She added that they can afford to lower this tax after having prepared
he last real estate yearbook of A & Asociados consultancy reflects that half of all Spanish provinces will take between 6 and 10 years to get through the current oversupply of houses, whether new or second hand properties, at the current pace of home sales. Only Madrid and Navarre can boast of being the provinces where the time needed for stock liquidation is lower: from 2.5 to 3.5 years.
Eleven Regions in Spain recorded year-on-year free market price growth during the second trimester of 2015, with the Canary Islands (4,1 %); Madrid (3,5 %) and Aragon (3,5 %) standing out by having enjoyed the greatest increases. There are expectations of Spanish property growth in price during 2016, as an average The average price of private housing grew by 1.2% in all communities in the secon