social housing

Tax on empty flats levies €11.3 million to provide more social housing in Catalonia

April 14, 2016 07:50 PM | ACN

In its first annual collection, a tax raised on banks and other financial institutions maintaining empty flats has generated €11.3 million. When it was first approved, the tax was only expected to raise €8 million. The revenue from the tax is a “very positive” first assessment according to Catalan Minister for Public Administration and Housing, Meritxell Borras. The revenue gained from taxing 198 institutions with flats that remained empty for two years or more will be used to purchase 260 properties for public housing in Catalonia. However, Borras is concerned that the tax will be “endangered” by potential interference by the government in state functions. 

House sales up 10.2% in Catalonia since March last year; 6th consecutive month of annual growth

May 8, 2015 09:33 PM | ACN

House sales in Catalonia have recorded a double-digit growth rate in March compared to the same period last year, official data from the Spanish Statistics Institute (INE) has highlighted. The number of house sales was 4,334 units, which represents a 10.2% annual increase over March 2014 figures. So far, Catalonia has accumulated six consecutive months of positive annual rates for house sales, and all its provinces have followed this trend with the exception of Tarragona. In particular, Barcelona Province stands out with an above-the-average 15.66% annual increase. In Spain as a whole, the number of houses sold in March was 27,280 units, a 2.1% increase in annual terms and the 7th consecutive month of positive annual rates.

Homes owned by banks as result of eviction may be preferentially bought by Catalan Government until 2021

March 10, 2015 10:00 PM | ACN

In 72 municipalities with a high demand for housing, the Catalan Government and the affected town halls will be able to use a right of first refusal to buy flats and houses on sale that are now owned by financial entities as a result of home evictions carried out since April 2008. The measure will only be in place until 2021 in those 72 municipalities and the aim is to prevent investment funds from buying them solely for speculative purposes and not to rent them. The initiative comes after it was noticed that investment funds were buying a great number of empty flats from banks, who came to own them after the previous owners were unable to pay their mortgage during the years of economic crisis. The measure will be included in a decree that will enter into force immediately and is part of a wider plan to facilitate access to housing.