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27
10
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23
33
18

All Market News: Spanish Real Estate Intelligence

Mortgage Lending at Nine-Year High
15 August 2019 Portugal’s granted €4.931 billion in mortgage loans I the first six months of this year, equivalent to €27 million per day, according to data from the Bank of Portugal (BdP). Lending is at its highest level since 2010, when more than five million euros were lent. Mortgage lending totalled €849 million in June, down from €927 million in May, when the total amount of loans exceeded the 900 million euro mark for the first time December 2018. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner
 
Portugal’s Treasury Clarifies Tax Implications of Switch to SIGI
12 August 2019 Portugal recently approved the regulatory framework for Real Estate Investment and Management Companies (SIGI), the country’s answer to Spain’s socimis and REITs in the US and the UK. However, there have been questions regarding any possible tax events being generating by the conversion of investment funds and corporations into the new structure. In answer, Portugal’s tax authorities issued a note stating that the switch from one to the other will not incur any taxes on the transfer of assets, as there is no actual transfer of assets. In other words, the company remains the same, just under a new regulatory structure. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner  
 
Spain’s Tander Acquires Four Stores in Porto for €15.7 Million
12 August 2019 Tander Inversiones, a socimi backed by the Barcelona-based firm Gadina, has acquired four retail spaces in Porto for €15.7 million. The stores, three of which are currently leased, are located on Avenida dos Aliados, numbers 107, 115, 121 and 133. The four properties have combined surface area totalling 1,719 square meters. Original Story: Idealista Adaptation/Translation: Richard D. K. Turner