In the last year, housing has been climbing positions. It is now the biggest concern of the Spaniards, according to the barometer of the Center for Sociological Research (CIS). In this scenario, the Government has presented a housing plan that includes a dozen measures to alleviate inequality in the real estate market.
Measures included in the housing plan
The measures in the housing plan aim to promote the construction of public housing, regulate the rental sector and increase housing aid. It seeks to achieve a structural change in the Spanish real estate market in the long term.
1. New Public Housing Company
Its objective will be to increase the housing stock under an affordable rental regime. For this purpose, 30,000 homes will be transferred from SAREB, apart from two million square metres of residential land.
2. State purchase priority
The objective is to create a regulatory framework for the Public Housing Company to have priority in the purchase of housing and land.
3. Guarantee for public housing
The housing plan aims to legislate that housing built with public funds should retain that status indefinitely. In other words, they cannot be sold to vulture funds or speculators.
4. ICO loans and guarantees
The goal is to promote public-private collaboration to boost housing construction. To this end, 6 billion euros will be deployed in ICO loans and guarantees.
5. PERTE of construction
The plan seeks to promote a strategic housing project to encourage industrialized and modular construction with lower costs and execution time. It will focus on the reconstruction of the areas of Valencia affected by the floods.
6. Guarantees for affordable rents
A system similar to the one already in operation in France. It involves public guarantees to facilitate rentals at affordable prices with guarantees for tenants and landlords.
7. Rehabilitation of vacant homes
This will provide incentives for owners who rehabilitate empty homes and put them on the rental market at affordable prices and for a minimum of five years.
8. 100% tax exemption on personal income tax
This would apply to owners who rent at prices regulated according to the reference index, even if the property is located in a stressed area.
9. Tax review of tourist accommodation
The new housing plan provides that these homes are considered businesses and are taxed as such.
10. Limits on foreign buyers
This would mean a higher tax burden; a levy of 100% of the property value for non-EU buyers who do not reside in Spain.
11. Tackling of short-term rental fraud
This would involve tightening regulations and inspections to prevent fraudulent practices in the short-term rental market.
12. New State Housing Plan 2026
The purpose is to increase the aid for young people, the elderly and people with disabilities.
The main lines of the housing plan are set. Now it remains to be seen how the autonomous communities, city councils and the private sector will respond.
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