The new housing law, approved by the Spanish Senate, has faced criticism from economists who were invited to assess its impact on the Spanish economy.
According to statements from independent economists, the new Housing Law includes measures that are deemed highly inadequate. Economists argue that these measures will create a climate of uncertainty, discouraging property owners from renting out their properties due to concerns about squatters' rights. Additionally, the limitations on rent increases are predicted to result in a decrease in available rental properties and an increase in the prevalence of unregistered rental agreements, allowing property owners to set rental prices and evade tax obligations.
Economists are urging the Senate to promptly initiate a review of the law and introduce amendments that would address these issues. The current version of the Housing Law is anticipated to disproportionately impact small property owners, many of whom rely on rental income as their primary source of livelihood. Furthermore, criticism has been directed towards the provision that restricts individuals to owning a maximum of five properties. This restriction is seen as a direct infringement on property rights and inconsistent with prevailing practices across Europe.
Hopefully, that the Senate will be able to improve the Housing Law, ensuring a more balanced approach that promotes both property owners' and tenants' interests, and the overall stability of the housing market.
If you are searching for a cozy home in Barcelona or other Spanish city, and need the help of a real estate professional, send us a message 📲 WhatsApp +34686698158. We will be happy to assist you.
According to statements from independent economists, the new Housing Law includes measures that are deemed highly inadequate. Economists argue that these measures will create a climate of uncertainty, discouraging property owners from renting out their properties due to concerns about squatters' rights. Additionally, the limitations on rent increases are predicted to result in a decrease in available rental properties and an increase in the prevalence of unregistered rental agreements, allowing property owners to set rental prices and evade tax obligations.
Economists are urging the Senate to promptly initiate a review of the law and introduce amendments that would address these issues. The current version of the Housing Law is anticipated to disproportionately impact small property owners, many of whom rely on rental income as their primary source of livelihood. Furthermore, criticism has been directed towards the provision that restricts individuals to owning a maximum of five properties. This restriction is seen as a direct infringement on property rights and inconsistent with prevailing practices across Europe.
Hopefully, that the Senate will be able to improve the Housing Law, ensuring a more balanced approach that promotes both property owners' and tenants' interests, and the overall stability of the housing market.
If you are searching for a cozy home in Barcelona or other Spanish city, and need the help of a real estate professional, send us a message 📲 WhatsApp +34686698158. We will be happy to assist you.