The housing bill will affect the rental market and the sale of new and second-hand homes. The specialists in real estate management at The Simple Rent analyze how it will especially affect those owners of luxury homes who have this type of property and who are either on a rental basis or have in mind to sell.
The measures proposed in this draft law are aimed at preventing homes from remaining empty for periods of time greater than two years, as long as the owners have several properties in this situation. In this way, it would ‘force’ the owners to rent that, in addition, would have a price limitation if, in addition, the area where the house is located is considered as stressed.
In this sense, Sonia Campuzano, CEO and founder of The Simple Rent, indicates that “the ‘sanctioning’ nature of these measures makes it even more necessary to have specialists in wealth management who, from a legal point of view, can advise how and in what way to rent or sell their properties without being harmed. ” Because the rental measures included in the draft bill also contemplate that, in the promotions of new construction homes, 30% are allocated to VPO and of that thirty percent 15% are directed to social rental. Whether they are promotions of luxury homes or not.
For this reason, people who plan to invest in luxury real estate, and buy and then rent, should know that in these promotions, social rentals will cause a contraction in both the demand for rent and that of sale.
Likewise, according to various surveys, about 60% of the owners of high-end homes in large Spanish cities are considering selling some of their empty properties to get rid of the IBI rate. It should be remembered that the limitation of the rental price in stressed areas poses a threat to owners who, for example, would be affected in the real estate tax with a surcharge of up to 150%.
Erik Brady is a news media and fitness professional with a strong experience in online journalism as well as he is a well-known fitness instructor. He strength includes knowledge of sports, health, yoga, meditation, and proficiency. From a young age, Erik has interest in Football and he is a WideWorldMag Contributor.