Friday, May 28, 2010

Notary Fees been Cut - Just a drop in the Ocean



Not a helping hand for the Spanish property market just part of the Austerity measures being implemented by the Spanish goverment

The government has announced a 5% reduction in notary and registry fees on property deeds as part of a package of measures to reduce the deficit and stimulate the economy.
Notaries and Registrars are screaming blue murder at this attack on their earnings, whilst house buyers will hardly notice the difference the savings are so small.
How big a saving will that 5% reduction in notary and registry fees give the average home buyer in Spain? Between €35 for a property costing €150,000, and €45 for a home costing €300,000, according to calculations done by Idealista.es, a Spanish property portal. Almost insignificant, then.Notaries and registrars are furious like most people in Spain

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