THE WORD ON THE STREET
News and information from Spain
International Edition - November 2024
Welcome to the November issue of 'The Word on the Street'. This is your monthly news and information from Spain provided by Ábaco Advisers. We hope to keep you in touch with the news, events and just a little bit of gossip.
Spanish tax forms foreigners need to complete to avoid penalties
Spanish tax forms – what you need to know

It’s time for non-residents to complete the 210 Spanish tax form. To find out more about this and other forms that you might come across if you own Spanish property, read our article:
There are no longer seven, now there are eleven reasons why a donation is really interesting in the Valencian Community (And another advantage in ISD for inheritances)
Why Donations and Inheritances Are More Appealing in the Valencian Community

The Valencian Community has expanded its tax benefits, making donations and inheritances even more advantageous. Recent changes have added four new reasons to consider a donation, increasing the total to eleven, alongside significant improvements in inheritance tax reductions. These updates make transferring assets to loved ones during your lifetime or through inheritance a financially appealing option.

Learn about the key changes and how they could benefit you:

The Energy Performance Certificate in Spain
The energy performance certificate

The Energy Performance Certificate or EPC is one way you can check whether a property is energy efficient. To find out more about them, how to get one and when you need it, read our article:

The Energy Performance Certificate in Spain
The Spanish Land Registry
What is the Spanish Land Registry?

The ‘Registro de la Propiedad’ is an official record of who owns what in Spain. It is also useful for checking whether there are any charges held against a property or if it has a mortgage against it. In our article we explain more about what the advantages are of property being registered in this way and how you can check it out:

The Spanish Land Registry
Ábaco Club Facebook Page
Ábaco Club at Large

Ábaco Club members have been out and about again. This time we visited Bodegas Volver based in Pinoso, to enjoy a little wine tasting. This is always a favourite activity for club members and with the nights drawing in, November was the perfect time to try a few of the amazing wines they have to offer. Sara and Irene really did us proud and we not only had opportunity to taste the wines but also to find out more about the wine making process. See the pictures of our recent activities on our Facebook page:

Living in Guadalest Spain: The Definitive Guide
Living in Guadalest

Guadalest is an incredibly picturesque ancient village in Alicante. It has only a small resident population with most of its revenue coming from tourism. It has spectacular views and several places of interest to visit. If you are a regular reader of Ábaco’s magazine then you will already be aware that the winners of our quiz are given the prize of a weekend’s stay in the Cases Noves boutique hotel in Guadalest. To find out more about this charming getaway, read David Ruiz’ article:

Living in Guadalest Spain: The Definitive Guide
What’s the latest with golden visas?
What’s the latest with golden visas?

Information about how long these will remain with us, keeps changing. In this article, Spanish News Today suggests that the potential end date is January 2025. Many people have frowned upon the visa due to it being unashamedly designed to attract the most wealthy, removing barriers for them that exist for most other people. However, others suggest that it brings money into the country and its removal will make little difference to the housing situation here:

Golden Visas In Spain Could Be Cancelled As Soon As January 2025

In this article, Euronews explains more about the scheme, why Spain is opting out and which other European countries have already done so. However, there are still some which offer the alternative and Hungary has actually reintroduced its version of the golden visa scheme:

Spain moves closer to golden visa ban - while one country is reintroducing its scheme
One In 6 Rental Properties In Spain Snapped Up In 24 Hours
Thinking about rental? There’s plenty of demand!

Rental properties for long term let are few and far between at present and this article brings home just how much in demand rental properties are with one in 6 being snapped up in 24 hours:

Essential guide to Torrevieja
Essential guide to Torrevieja

We love a guide to Torrevieja as this is the main location of our offices. This one, from A Place in the Sun is quite brief but very to the point and reflects the appeal that the town has for many people:

Essential guide to Torrevieja
Purchasing the Perfect Holiday Home in Spain
Purchasing your holiday home

If you do decide to go ahead and buy your very own ‘place in the sun’, then here they offer their advice on how to go about it. At the top of the list is being clear about why you are buying and what your priority is:

Purchasing the Perfect Holiday Home in Spain
Brits in Spain Facebook
Keep up-to-date with advice

If you are British then a good source of up-to-date information relevant to you is available on the Brits in Spain Facebook page. In November they make reference to the EU’s forthcoming entry and exit system:

The N332 magazine

Ábaco isn’t the only organisation producing magazines for foreigners! The N332 publish online their own magazines which are now up to the 29th issue. In the latest you can read about ‘What to do if you see a dog locked in a car’, new road signs, the truth about flip-flops and many other articles on topical subjects. Take a look for yourself:

How to downsize your home when moving to Spain
Ready to downsize – here’s some good advice

Whether you’re still in your home country but moving over shortly or already here and thinking about finding somewhere smaller, this article from Think Spain provides some good advice. It considers the benefits of downsizing and how you might go about it:

How to downsize your home when moving to Spain
Your guide to using public transport in Spain
How to get around on public transport in Spain

This article from Think Spain provides a realistic perspective of your travel options if you don’t have your own transport or want to travel long distances:

Your guide to using public transport in Spain
Record foreign purchases in Spain boost market to new highs in 2024
Alicante, Valencia & Castellón, still in front for foreign buyers

In this article from Idealista they outline the property buying trends in Spain. The Valencian Community continues to be popular – being the top choice for foreign buyers in the first part of 2024 (H1):

Record foreign purchases in Spain boost market to new highs in 2024
Which countries in Europe are heading toward becoming cashless societies?
How do you stand on a cashless society?

This article from Euronews identifies the European countries most and least prepared for a cashless society. Spain must be somewhere in between the two groups as it isn’t mentioned. However, the article makes for interesting reading and, surprisingly, Germany is down as being one of those that is least prepared:

Which countries in Europe are heading toward becoming cashless societies?
6 Ways To Make The Most Of The December Holidays And Christmas In The Region Of Murcia
Getting ready for Christmas

If you are tuning up in preparation for December’s festivities then Murcia Today can help you. In this article they give us 6 ideas for celebrating Christmas in the Murcia Region. Suggestions include The Fiestas of La Purísima in the Virgen del Castillo in Yecla, the medieval market of Caravaca, the Christmas market in Murcia itself, places to visit in Cartagena, Murcia and Lorca, wine tasting in Jumilla, Yecla and Bullas and some sporting opportunities on the Costa Cálida too. So, if you’re looking for something slightly different to just wading through your Christmas dinner then why not take a look:

Rafael Nadal’s career ends with Spain’s Davis Cup finals defeat by Netherlands
Rafael Nadal bows out

He has an incredibly impressive track record but all good things must come to an end and so, Rafael Nadal stepped down at the Davis Cup finals. He will be remembered fondly for a long time to come for his passion, commitment, generosity and, of course, success:

Rafael Nadal’s career ends with Spain’s Davis Cup finals defeat by Netherlands
What interests you?
What interests you?

We would welcome any suggestions for future themes you would like us to cover either in the newsletter or in an article on Spain Explained.

Please let us know by email at newsletter@abacoadvisers.com.

Thank you!
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