Post by nawrinislam037 on Jan 11, 2024 2:34:07 GMT -8
Despite the unfavorable report of the General Council of the Judiciary that warned about the possible invasion of autonomous powers , the Council of Ministers approved yesterday the referral of the new Housing Law project to the Cortes, so that it can be processed under the procedure urgently . The rent regulation mechanism is considered the star measure. But what other new features does the text introduce? What will the declaration of a territorial area as a “ stressed residential market area ” imply? To what extent does the new rule affect the “large holder” of homes? What are the new guarantees and information obligations to which purchasers and tenants are entitled during the development of a real estate transaction? Let's see.
The sale of public housing stock to investment funds is hindered One of the most significant bets of the new Law is the regulation of the basic legal regime of public housing parks. These public parks, almost Phone Number Data non-existent in Spain compared to the European Union average, cannot be sold. Thus, the project makes it impossible to repeat future sales operations of the public housing stock to investment funds and establishes a separate and permanently subject to protection assets in which the income obtained must always be used for the creation, expansion, rehabilitation or improvement of public housing stock. In Spain, this social housing stock (located around 290,000 homes ) offers coverage to 1.6% of the 18.6 million households that live in Spain.
On the other hand, in neighboring countries such as France, the United Kingdom or the Netherlands, such percentages rise to 15%. The concept of incentivized affordable housing is introduced Incented affordable housing will be considered privately owned housing, including third sector entities, to whose owner the competent Administration grants benefits of an urban planning, tax, or any other type, in exchange for allocating them to habitual residence on a rental basis . or any other temporary tenure formula, for people whose income level does not allow them to access housing at market price. A “for rent” sign placed on a balcony of a home.
The sale of public housing stock to investment funds is hindered One of the most significant bets of the new Law is the regulation of the basic legal regime of public housing parks. These public parks, almost Phone Number Data non-existent in Spain compared to the European Union average, cannot be sold. Thus, the project makes it impossible to repeat future sales operations of the public housing stock to investment funds and establishes a separate and permanently subject to protection assets in which the income obtained must always be used for the creation, expansion, rehabilitation or improvement of public housing stock. In Spain, this social housing stock (located around 290,000 homes ) offers coverage to 1.6% of the 18.6 million households that live in Spain.
On the other hand, in neighboring countries such as France, the United Kingdom or the Netherlands, such percentages rise to 15%. The concept of incentivized affordable housing is introduced Incented affordable housing will be considered privately owned housing, including third sector entities, to whose owner the competent Administration grants benefits of an urban planning, tax, or any other type, in exchange for allocating them to habitual residence on a rental basis . or any other temporary tenure formula, for people whose income level does not allow them to access housing at market price. A “for rent” sign placed on a balcony of a home.
