Taxation on two properties

Hi,  I have been residing in Spain now for 18 months, had a few teething problems but things seem to be running smoothly at the moment.

Can anybody give me advise on what the tax issues are with owning two properties in Spain. I am thinking of buying a new house, the house is off plan not ready for at least 4 years. I cant sell my house till the new one is ready, so there may be an overlap,It could take a year to sell my house, so in the eyes of the law i will own two properties in Spain.

Can anybody advise what the law states.?

Thanks.

A friend of mine has two properties in Spain and she is a non resident.  She pays the same taxes of each one, wealth and patrimonia, plus tax on income on one as she now rents that out.

Do resendents pay wealth tax on second properties?  Possibly only when you sell but technicaly you are selling your main residence so I would have thought the amount would be neglidgable.

Ouch spelling

Zena

Welcome to EOS Dream Hills

I can't answer your question, sorry, but just dropped in to say welcome!

Regards

Thank you for the warm welcome. Have taken your advise and posted on the other forum.

Thank you once again.

Amanda

Hi Dream Hills

Justin, hope this post is OK as it's not really an ad!  I had an email from Moneycorp, having been to the recent A Place in the Sun Live exhibition, and they are offering a free financial guide, which has been written with Blevins Franks.  Having bought the Blevins Franks book "Living in Spain" at the Viva Espana exhibition, I can say it was very comprehensive, even if reading it sends me to sleep!  The link for the free guide is: http://www.moneycorp.com/personal/financialguide/.

Regards.

Sue