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All Forum Posts by: Jon Jaaback

Jon Jaaback has started 1 posts and replied 3 times.

Real Estate Deal Analysis & Advice

Post: Options for an under performing Spanish golf estate apartment

Jon JaabackPosted
  • Real Estate Investor
  • Cape Town, Western Cape
  • Posts 3
  • Votes 0

Hi everyone - thanks for the replies.

Stephen and Andrew - definitely worth looking into - thanks for the suggestions!

Bill - I own properties in various countries around the world but Spain is the only country where I am taxed on gross (as opposed to net) rent. Also, my Spanish tax advisors weren't aware of this at the time - I guess they hadn't dealt with non-EU residents before. Thanks for the suggestions - also well worth looking into!

0 Votes
Real Estate Deal Analysis & Advice

Post: Options for an under performing Spanish golf estate apartment

Jon JaabackPosted
  • Real Estate Investor
  • Cape Town, Western Cape
  • Posts 3
  • Votes 0

Thanks Joel - appreciate your comments.

0 Votes
Real Estate Deal Analysis & Advice

Post: Options for an under performing Spanish golf estate apartment

Jon JaabackPosted
  • Real Estate Investor
  • Cape Town, Western Cape
  • Posts 3
  • Votes 0

About a year ago I purchased a duplex penthouse apartment on a luxury golf estate near Mar Menor in Spain. Only after purchasing the property did I become aware of the fact that, as a non-EU resident, I have to pay tax on gross rental income. This makes the investment far less attractive than I originally thought. I don't have any equity in the property right now (probably slightly negative). Anyone else out there in a situation like this? Any clever ideas? Thanks

0 Votes