PROPERTY NEWS BY LYDIA ELLIS

NEW MERIBEL DEVELOPMENT LAUNCHED
A new property development in Meribel has launched and is due for completion in December 2012. The Les Balcons de la Chapelle development comprises of two, three and four bedroom apartments and chalets, offering easy access to numerous ski runs with just a short walk to ski lifts, shops and restaurants. Prices start at €720,000. Contact: Terresens on 0203 101 110 or go to www.terresensleaseback.com.

SPAIN CUTS TAX TO LIFT CONSTRUCTION SECTOR
The Spanish Government has cut IVA (VAT) from 8 per cent to 4 per cent in an attempt to boost the new build housing sector. Applicable until 31 December, the tax cut will save a property purchaser a sizeable €8,000 on a €200,000 purchase. The minister of development Jose Blanco said the move would “revive the construction sector.”