Read news from:
Austria
SHARE
COPY LINK
For members

WHAT CHANGES IN SPAIN

Everything that changes in Spain in 2024

Measures to help with the cost of living crisis, an increase in taxes, new rules for Spain's self employed workers and free train travel extended, these are just some of the changes that you can expect in Spain in 2024.

Published: 29 December 2023 13:22 CET
Updated: 1 January 2024 08:19 CET
Everything that changes in Spain in 2024
What changes in Spain in 2024. Photo: Josep Lago/AFP, George Milton/Pexels and Gabriel Bouys/AFP

Measures maintained to help with the cost of living crisis

The Spanish government recently announced a new decree that would extend some of the anti-inflation measures into the new year, including maintaining the VAT reduction on basic food items and continuing to offer free public transport.

Other forms of aid include eliminating bank commissions at ATMs for those with disabilities and the elderly, as well as the prohibition of carrying out evictions of the most vulnerable. Find out all about these and the other measures that will be extended into 2024. 

Changes for the self-employed 

Spain’s 3.3 million ‘autónomos‘ will have to get their heads around several new changes next year including amendments to social security payments, VAT and income tax returns. In 2024, social security payments will be reduced further for those on low incomes, while they will increase for those who earn more.

Currently, those self-employed workers who earn an annual net income equal to or greater than €1,000 have to submit an Income Tax Return, but from 2024 everyone will have to do this, regardless of how much they earn. There will also be changes in reporting VAT, and new self-employed workers in the Canary Islands, Extremadura and Galicia will join those in some of Spain’s other regions (such as Madrid) and benefit from not having to pay social security when they first sign up.

READ ALSO: Everything that changes for self-employed workers in Spain in 2024

Financial aid for the self-employed

Autónomos may have lots of new changes to come, but thankfully there are several financial aid programmes to help them out in the new year too.

Self-employed workers in Valencia will be able to benefit from non-refundable subsidies of up to 40 percent with a maximum of €100,000 per beneficiary, while those in Madrid can choose from three different types of aid including subsidies and entrepreneurship programmes.

There’s also financing available through the Official Credit Institute and benefits for those hiring unemployed workers. 

Increase in taxes  

Unfortunately, 2024 will bring with it an increase in several different taxes here in Spain, from personal income tax to taxes on large fortunes. Experts estimate that the government will collect €204 million more from personal income tax in 2024 than they did this year. This is mainly due to the increase in the tax savings brackets.

The temporary solidarity tax on those with net assets greater than €3 million will continue in 2024, designed to add €21 million to the State coffers to help combat inflation.

Transport discounts have been extended

After speculation and intense debate within the Spanish cabinet, public transport discounts are set to be extended again in Spain until the end of 2024. Earlier this month Sánchez announced that public free transport would likely only be continued for children, young people, and the unemployed, but rules mean it’s now extended to all passengers. 

This means they will continue to offer a 30 percent discount on public transport as before, while each region will be responsible for adding a discount to extend this reduction. Passengers can obtain free travel by paying a €10 deposit on Cercanías or Rodalies commuter trains and a €20 deposit on Media Distancia (mid-distance) trains. This will be returned to them if they have made a total of 16 journeys during three months. 

Transport tickets on Rodalies and Cercanías will remain free in 2024. Photo: Andrew Bone from Weymouth, England / Wikimedia Commons
 

Changes to travel in Spain

Relaxed airport security, new direct flights, extra taxes on plane tickets, new international train links, free or discounted public transport, good news for drivers and more – there are lots of changes to expect when it comes to travel in Spain in 2024.

Spanish airport authorities confirmed that from 2024 liquids greater than 100ml will be allowed in hand luggage when flying from Spain, and electronics will be able to be kept in your bag when going through security. There are also several new flight routes announced, connecting Spain with many other cities around the world, as well as new rail services connecting Spain with Europe. 

There are also two changes due to come into effect that will affect travel in and out of the European Union for non-EU citizens in 2024 – the EES (Entry/Exit System) and the ETIAS – European Travel Information and Authorisation System. 

READ ALSO – LISTED: All the new direct flights to and from Spain in 2024

Spanish property prices in 2024

If you’re thinking of buying a home in Spain in 2024, you’ll want to know what the real estate experts have predicted for the year to come. The price drops that many forecast for this year did not materialise and in fact, the cost of buying a home in Spain actually increased by seven percent in 2023.

The general consensus is that if you’re looking to buy in one of Spain’s main property markets such as the Mediterranean coasts, Barcelona, Madrid or the Balearic Islands you’re unlikely to find a great bargain in 2024 and prices may continue to rise. Elsewhere in the country, however, prices will begin to stabilise and some are even predicting slight drops. 

The income requirement for Spain’s digital nomad visa may go up

Spain’s DNV became available for the first time earlier this year, but there’s still a lot of confusion about the financial requirements and many media outlets are reporting incorrect amounts. There’s also a big chance the threshold will increase in 2024.

The financial requirement is linked to Spain’s minimum wage, which is set for another rise in 2024. Experts predict that this will most likely happen in January. While the exact amount hasn’t been finalised yet and the government still has to approve the rise, the Ministry of Labour has proposed it should be raised by four percent.

If it goes up by this amount, those applying for the DNV in 2024 could have to prove earnings of €2620.80 per month. 

Spain’s golden visa could be scrapped

The Spanish government’s junior coalition partner Sumar has voiced its intention of getting rid of the country’s golden visa scheme which grants residency to non-EU nationals who buy a Spanish property worth more than half a million euros.

Real estate experts and lawmakers also believe that the €500,000 threshold is insufficient, especially in Spain’s main cities

Portugal, Ireland, Greece and Malta all either scrapped the equivalent of their golden visas in 2023 or made the conditions much harder for millionaires who want to make a real estate investment.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.
For members

WHAT CHANGES IN SPAIN

KEY POINTS: Everything that changes in Spain in May 2024

Mortgage price drops, help for young people to buy a house, new obesity medication, Catalan elections, lots of fiestas, public holidays and more - here's what's in store for Spain in May 2024.

Published: 29 April 2024 17:41 CEST
Updated: 1 May 2024 06:26 CEST
KEY POINTS: Everything that changes in Spain in May 2024

May 1st public holiday
El Día del Trabajador or Labour Day in Spain is a public holiday in Spain’s 17 autonomous communities and is held on May 1st. In 2024, May 1st will fall on a Wednesday, mid-week.

It will be a holiday in all regions across Spain, so no matter where you live you will most likely have this day off. Schools, most businesses and shops will also be closed on this day. 

May 2nd holiday in Madrid 
May 2nd is also a public holiday in Madrid and commemorates the day in 1808 when the population rose up against Napoleon’s troops in the Peninsula War.

Refusing to give into French demands to surrender, the Spanish made their last stand in an archway to the barracks before being killed.

Schools will be closed and streets of Malasaña will be filled with art, music, dancing and events to mark Dos de Mayo including stages set up in Plaza Commendadores, Conde Duque, Plaza San Ildefonso.

READ ALSO: What is ‘Dos de Mayo’ and why does Madrid celebrate it?

Number of tourists to soar
While officially May is the shoulder season in Spain, its good weather marks the start of the mass tourist arrivals, which usually reach their pinnacle in July and August.

The Ministry of Industry and Tourism is anticipating a surge in the number of tourists this May, however, with 9.49 million expected to arrive in May. This will be 14 percent more than in the same month of 2023, according to forecasts by Turespaña. It’s estimated tourists will spend almost €12,000 million in the fifth month of 2024, an increase of around 22 percent compared to the same period last year.

Catalan regional elections
Catalonia’s President Pere Aragonès announced in mid-March that he was dissolving the Spanish region’s parliament and would call early elections, after his proposed budget was rejected by the assembly.

This means that the new elections will be held on May 12th. Originally, they been set for early 2025. May 2nd is the last day to request a vote by mail, while May 6th is last day to vote by mail. On May 10th marks the electoral campaign ends at midnight and then May 12th will be the actual election day. 

Vigo Airport to close for refurbishment
Back in October 2023, the city of Vigo in Galicia announced that its airport would close in order to carry out refurbishments. The comprehensive remodel on the airport’s runway will leave the city without a working airport for almost the entire month of May, meaning no flights will be running in or out of the city. It will last from May 6th to the 30th and will include an investment of €30 million for the rehabilitation of its 2,400-meter deteriorated runway.

Two exclusive international flights from Barcelona
Barcelona-El Prat Airport will launch an exclusive route directly to Hanoi, the capital of Vietnam. In the month of May, Vietnam Airlines will operate two special flights, according to the Aeroinfo Barcelona-El Prat X (formerly Twitter) account. The first flight will take place on May 1st and the second on May 8th.

So far only these two flights have been announced and there are no more guarantees for future flights directly between Barcelona and the Vietnamese, so you might want to take advantage while you can.

Mortgage price drop for 4 million households

Banks are preparing to reduce mortgage re-payments, on average, by around €50 per month starting in the second half of the year. The fall in interest rates will be welcome news for four million people who have variable-rate mortgages and have seen their payments increase month after month, in recent years.

The 12-month Euribor averaged 3.609 percent in January, below the 3.679 percent in December. This is the third consecutive month that this index has fluctuated downwards. 

Help for young people to buy a house 
Starting in May, banks could help young people and families with children to buy a home by giving them access to state-backed mortgages. This measure will allow some 50,000 beneficiaries to access mortgage loans on favorable conditions, with the possibility of financing up to 100 percent of their first home.  It will be available for all those under the age of 35 with an annual income less than €37,800 gross and for families with children under their care, providing that they haven’t bought a property previously.  

READ ALSO: Spain’s govt to act as first home guarantor for young people and families

New obesity medication
From May 1st, one of the most anticipated drugs to fight obesity will become available in Spain. It has been developed by Novo Nordisk and is called Wegovy. The Danish company has warned that “given the unprecedented high global demand for Wegovy, the supply of this drug will be carried out in a limited and responsible manner in each country. It’s not currently included as part of the National Health System.

The new drug is a physiological regulator of appetite and calories and deals with receptors in the brain.

Help to complete annual tax return for over-65s
The income tax campaign for 2023-2024 is well underway, but many taxpayers are finding it difficult to complete their tax returns. Among them, those over 65 years of age tend to be the group with the greatest problems.

In order to solve this issue, the government is promoting a special aid plan for them, which will be offered in more than 500 small municipalities, in 46 provinces, with less than 3,000 inhabitants. Help will be offered from May 7th in collaboration with the different town councils. In order to benefit from it you will have to make an appointment starting on April 29th.  

Mother’s Day on May 5th

Unlike Father’s Day in Spain, which is always celebrated on the fiesta of San José on March 19th, Mother’s Day changes each year.

It is celebrated on the first Sunday in May, which this year will fall on May 5th. Spain has been celebrating Mother’s Day in this way, changing each year for the past 59 years.

It is typically celebrated by children giving gifts to their mothers and going for celebratory family meals.

Teachers’ strike in Valencia region

Teachers from public schools and institutes in the region of Valencia are set to go on strike on Thursday, May 23rd, according to The Platform in Defence of Public Education. The platform has called on teachers and families from all non-university public education establishments to participate in the mobilisation.

Students will also be able to join the strike from 3rd year of secondary school. The walkout will be staged in order to put a stop to cuts and force a negotiation that improves the conditions of the teachers and schools. 

A month of fiestas

May is a month packed full of festivals in Spain, particularly in the south of the country and the city of Córdoba. Córdoba in fact has a whole month of celebrations in May beginning with the Cruces de Mayo from April 26th to May 1st, where flower-adorned crosses will be set up across the city. This will be closely followed by the Patios Festival from May 2nd to 12th, in which visitors can see inside the city’s private walled gardens, decorated with flowers for the occasion.

A couple of hours to the southwest the Romería del Rocío will be taking place in the small Huelvan village from May 17th to the 20th. During the event more than one million people will make the pilgrimage to Rocío, many on horseback, filling its sandy streets with a lively atmosphere.

While in northern Spain, there are more flowery scenes at the Temps de Flors in the Catalan city of Girona. During the festival held from May 11th to the 19th, elaborate art installations created from plants and flowers will be set up across the historic Jewish quarter, city walls, cathedrals and churches.

Weather in May
According to meteorologists from Eltiempo.es this May will be warmer than normal throughout Spain, although the northwest and north of the peninsula will experience lower temperatures than the rest of the country.

The month will begin, however with above-average rainfall in the northeast of the peninsula, including the Balearic Islands, the Pyrenees, northern Aragón, Catalonia and Navarra. Rainfall is predicted to be slightly below average in the Canary Islands and some areas of southern Andalusia.

SHOW COMMENTS