The Spanish President, Pedro Sánchez, announced a new package of measures to tackle the housing crisis. These initiatives aim to increase the availability of affordable housing, protect the public housing stock, and combat speculation in the real estate market.
1. Income tax exemption: Property owners who rent their homes according to the reference index will be fully exempt from income tax, regardless of whether their properties are in high-rest pressure areas.
2. State guarantees for tenants: The new system will protect landlords from potential losses, and benefits will be provided to tenants under 35 years old.
3. Vacant property rehabilitation: Owners who renovate their properties for rental for a minimum of five years will receive financial support.
4. Taxes for SOCIMI and non-EU residents: The government plans to tighten tax conditions for SOCIMI investment funds if they do not contribute to affordable housing development. Additionally, taxes will increase for property buyers from non-EU countries.
5. Regulation of tourist rentals: Tourist rentals, especially in densely populated areas, will face stricter controls. These rentals will be taxed as economic activities, including VAT.
6. PERTE for innovative construction: A strategic project, PERTE, has been launched for modular and industrialized construction. The goal is to speed up housing construction timelines and reduce costs. Valencia, which has been affected by natural disasters, will be the first region to implement this project.
1. Income tax exemption: Property owners who rent their homes according to the reference index will be fully exempt from income tax, regardless of whether their properties are in high-rest pressure areas.
2. State guarantees for tenants: The new system will protect landlords from potential losses, and benefits will be provided to tenants under 35 years old.
3. Vacant property rehabilitation: Owners who renovate their properties for rental for a minimum of five years will receive financial support.
4. Taxes for SOCIMI and non-EU residents: The government plans to tighten tax conditions for SOCIMI investment funds if they do not contribute to affordable housing development. Additionally, taxes will increase for property buyers from non-EU countries.
5. Regulation of tourist rentals: Tourist rentals, especially in densely populated areas, will face stricter controls. These rentals will be taxed as economic activities, including VAT.
6. PERTE for innovative construction: A strategic project, PERTE, has been launched for modular and industrialized construction. The goal is to speed up housing construction timelines and reduce costs. Valencia, which has been affected by natural disasters, will be the first region to implement this project.