At forty-five minutes from Algeciras by boat, two hours from Madrid by plane and helicopter or thirty minutes from Malaga, Ceuta is a small and friendly city where major real estate business can be done.
The city has seventy thousand inhabitants but every day almost twenty thousand Moroccans cross the frontier on their way to work or to acquire goods, which signifies large additional economic transactions. And to this has to be added several thousand professional soldiers and their officers.
Ceuta has a special taxation system whereby its inhabitants receive a fifty-percent rebate in income tax (IRPF), and likewise in company tax. There is no VAT. Also, the residents - civil servants or not - are granted a residence bonus that means a 25% increment, at least, on the wages of Peninsular Spain.
The total surface area is 20 km2, but a part is not available for city-planning use since there are areas that belong to the military. The shortage of land means there is a great demand for housing and business premises, both for purchase and for rent.
Leasing is another excellent business. In Ceuta, apart from its resident population, there is a great number of professionals, civil servants and soldiers seeking houses to rent. This leads many investors to buy flats or apartments and subsequently lease them, since the return is very high in comparison with Peninsular Spain.
So, thanks to this growing demand and the high purchasing power that the special taxation system provides, promotions are sold practically on the drawing board, provided it is organized with an effective marketing.
However, plots of land are scarce and to obtain them, it is necessary to rely on real specialists that know the city perfectly. In brief, Ceuta is a unique city where good real estate business can be done with favourable tax treatment, if you have effective and of recognised real estate counsellors.
