Spanish rental contracts will no longer be updated following the Consumer Price Index (CPI) in 2023 or 2024, as established in the new Spanish Housing Law.
The CEO of the developer Aedas Homes has taken stock of his company's situation and that of the real estate sector. David Martínez was optimistic about the future, although he warned that rising interest rates may result in a fall of around 15% in new-build home sales.
Spain's controversial new "Law on the Right to Housing", more often known as Spain's new Housing Law, came into force on 26th May 2023 following its publication on 24th May in the Official State Gazette (BOE).
Tourist accommodation in Spain increased by 16.4% in the last year, with a total of 306,136 apartments, according to data up to last February publishedh by the Spanish Statistics Institute (INE).
All these tourist apartments represent 1.21% of the total number of properties in Spain, whereas a year
The future of 'golden visas' is under debate in the central government once again. In February, Más País presented a bill to the Spanish Congress of Deputies to eliminate the 'golden visa' for foreign investors who buy a property worth €500,000 in Spain.
Although many Spaniards believe that a law regulating the right to housing is needed, they also think that many rental properties could be withdrawn due to the new Housing Law (51%). On the other hand, some believe that the social and affordable rental market is less likely to be increased (44%).
The CEO of Bankinter, María Dolores Dancausa, has stated that she is against market intervention in general, "whether real estate or any other type", as, in her opinion, "it produces distortions", such as the measure to limit the price of rent included in Spain's Housing Law.
For Dancausa, int
A Spanish political party in the Valencia region, Compromís, has presented a series of amendments to Spain's Housing Law, among which it proposes a new regulatory provision to emulate the measure adopted by Canada to temporarily prohibit the sale of homes to individuals or legal entities without Spa
The Spanish Rental Negotiating Agency (ANA) claims that Spain's new Housing Law will lead to a "drastic" reduction in the rental market supply, as well as many other "undesirable effects" that the organisation has identified.
The secretary general of the socialist group in Congress, Isaura Leal, has closed the door to Unidas Podemos's idea of including a compromise amendment in the Housing Act to regulate tourist accommodation.
The Plenary Session of the Spanish Congress has rejected the bill presented by the Parliament of the Balearic Islands, which modifies Spanish Law 29/1994, of 24 November on Urban Leases, and did not go ahead due to 71 votes in favour, 270 against and four abstentions.
The centre-left PSOE party has won the Spanish general election with 123 seats. If they combine with the far-left Unidas Podemos (42), they will have 165 seats in parliament but won’t reach an absolute majority (176), so they will need the support of other parties to govern.