Welcome to another exciting opportunity in Spain! Whether you're a resident or planning to relocate, Spain offers more than just its enchanting beaches and rich culture. There's now a financial incentive for those looking to renovate their homes or apartment buildings. And guess what? It's supported by the European Commission!
Understanding the Financial Perks
Now, let's talk numbers and benefits: Tax Deductions Galore: Homeowners can enjoy tax deductions ranging from 20% to a whopping 60% of the costs of refurbishment
This includes a 20% deduction for works that reduce heating and cooling use, 40% for reducing non-renewable primary energy consumption, and 60% for comprehensive energy rehabilitation works.
Specific Qualifying Conditions: To be eligible, the work must have been carried out between October 6, 2021, and December 31, 2022. Plus, the property should be your residence or a long-term rental, and meet certain energy efficiency improvements.
Accessible Improvements: The program also covers accessibility improvements, perfect for those looking to make their homes more inclusive.
Neighborhood Regeneration Projects: For large-scale regeneration of entire neighborhoods, the grants could cover 70% to 100% of costs, with 100% coverage reserved for poorer areas.
Ease of Management: The government is facilitating the management of these projects by allowing construction companies, energy companies, and banks to handle the planning, works, and funding management
Spain Costas: Your Ally in Making the Most of These Opportunities
At Spain Costas, we’re excited about these developments. Renovating your Spanish home or apartment can now be more affordable and rewarding. Whether it’s upgrading your villa in Valencia or modernizing an apartment in Madrid, these incentives make it a great time to invest in your Spanish property.
The Deadline and Your Next Steps
Remember, the deadline for applying for these tax deductions has been extended until the end of 2024. So, there's ample time to plan and execute your renovation projects.
Thinking about how to start? Spain Costas is here to assist! We can guide you through the eligibility process, connect you with the right professionals, and ensure you make the most of these fantastic incentives.
Your Dream Spanish Home Awaits
Spain is not just a destination; it's a lifestyle. And with these supportive initiatives, your dream of living in a beautifully renovated Spanish home is now within easier reach. Let Spain Costas help you turn that dream into a reality.