Hi All
Extracts from newspaper story this weekend
Already reeling from news that their properties' values are under threat due to the oversupply of houses and the increase in the euro interest base rate to 3.75%, a fresh crackdown by Spanish tourism & tax authorities over unlicenced apartments and villas that are let to holidaymakers threatens to trap countless Britons, anxious to maximise their investment in homes on the Costas.
The opportunities for buy to let investments which generate income to repay mortgages have lured thousands of Brits into snapping up Spanish properties. However the vast majority of flats and villas cannot be offered for holiday rental, because the tourism authorities do not licence them. And even if official permission is sought, it is rarely granted. There are strict conditions before properties are approved for rental to holidaymakers which means letting unlicenced properties to tourists is illegal.
British owners have been fined up to £20,000 and ordered to remove properties from holiday rental websites and have even been threatened with legal action from neighbours.
Property owners also face action from the Spanish and British tax authorities, who have stepped up their scutiny of holiday rental websites if they fail to declare income from lettings.
"WE HAD NO IDEA THE DEVELOPMENT HAD TO BE AUTHORISED FOR TOURISM USE."
Does anyone know if Taray are applying for licences for San Cayetano??