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The Junta de Andalucía’s new law to protect a 500 metre-wide strip along the region’s coastline that it still undeveloped is to be less severe than expected.

955410 15724 14 300x224 - Regional coastal decree eases restrictions on urban developmentThe decree, drawn up by the PSOE-IU coalition at the helm of the Junta, will affect some construction plans on the Costa del Sol, but not as many as the town halls (most of the governed by the PP) had feared.

The ‘Plan de Protección del Corredor Litoral de Andalucía’ is to be on public display until October 31st to allow affected parties to present their objections.

The decree does affect residential plans for some 204 hectares of land previously designated for construction in several municipalities.

A total of 3,577 homes had been due to be built on this land, while another 193 hectares were the location for development projects (involving 3,893 homes) that will be partially affected. The land in question is in areas that do not have an approved ‘partial’ development plan that allows the construction. Projects on land that do have partial plans will be able to go ahead.
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Reforms to the Coastal Law in Spain are affecting the value of properties and there are reports of a frenzy of activity in some locations.

1110056 51307 1 300x199 - New lease of life for coastal properties in SpainThe changes to the law, which effectively nationalised the whole coast of Spain when it was introduced in 1988, allows refurbishments of homes close to the seafront, and creates a market for longer leases, opening up investment opportunities for those in the know.

Owners of expropriated homes that were legally built before the Ley de Costas were given a 30 year concession of use, effectively a type of lease, many of which were due to expire in 2018.

Now the Ley de Costas has been reformed, extending concessions from 30 years to 75 years and making it legal to buy and sell concessions that before could only be inherited. As a result, concessions are now much more valuable.
...continue reading "New lease of life for coastal properties in Spain"