The 26th of October 2021 brought with it the approval of the new Housing Law, delimiting the irregular rises in rents by the Autonomous Communities and municipalities as the main point. Read on, from Grupo Mar de Casas we invite you to learn about the new Housing Law approved by the Council of Ministers of the Spanish Government.
What is the new Spanish housing Law?
The controversial new Spanish housing Law, which will regulate the real estate market in the coming years, will be based on a decalogue of basic points that will make it a unique law in the European Economic Community, with a markedly social character.
New Spanish housing law: tax increase for empty houses
Local councils will be able to increase IBI with a surcharge of up to 150% for homes that have been empty for more than two years if the owner owns more than four homes in the municipality, eliminating from the Spanish property market a large number of homes that will become occupied, either for rent (their ultimate purpose) or put up for sale.
New Spanish housing Law: evictions to be regulated
A measure of a markedly social nature, it extends the deadline for evictions from one to two months for individuals and from three to four months for companies, extending communication between the courts and the social services of the Autonomous Communities and Town Councils, and providing a response to people at risk of social exclusion due to a possible eviction.
Nes Spanish housing law: regulation of public rents in new housing developments
New housing developments should reserve 15% of the total for social rents, increasing access for disadvantaged people.
Limiting renting to large landlords in the new Spanish housing law
If you have more than ten dwellings or more than 1500 m² (conditions for which you will be considered a large landlord) you will have to regulate and limit the price of your rents according to the area in which you live within eighteen months. This will affect 150,000 homes over the next few years.
New Spanish housing Law: small landlords to benefit from lower rental prices
If you are a small landowner you will be eligible for tax benefits with the new Spanish housing law as you can get up to 90% discount if you lower the rent. In any case, the new Housing Law establishes different brackets of between 50, 70 and 90% of subsidies.
Stressed areas, an important term for the new Spanish housing Law
Stressed areas will be those in which the average rental price exceeds 30% of the average income of the neighbourhood or municipality under study, so that the State, the Autonomous Communities and the municipalities will be responsible for monitoring the indiscriminate rise in the price of rent in the area and establishing rental reference rates that must be respected.
Thus, for three years the rental contract can be extended at the current price, with the addition of the CPI, which can be increased by 10% if it is a long-term contract or if improvements are made to the property.
The new Spanish housing law remembers young people: youth vouchers established
Two hundred and fifty euros per month for the next two years is the amount adopted in the new support voucher for young people between 18 and 35 years of age with an income of less than 23735 euros, to which is added direct aid of up to 40% of the rental price (always less than six hundred euros).
Incentivised affordable housing: a new term in the new Spanish housing law
The new Spanish housing law enacts tax and planning benefits for landlords who rent out their homes to people who cannot afford to buy property..
Subsidised housing: new Spanish housing Law
A period of 30 years is established for subsidised housing, defining the public protection of land in reserve, thus helping the most disadvantaged groups to obtain a roof over their heads.
The new Spanish housing Law, a turning point in Spain
The new Spanish housing law, with a markedly social character, puts a ceiling on rents, benefits the most disadvantaged people and regulates an exorbitant real estate market in many Spanish autonomous communities.