Spain’s New Housing Act in Andalucía
This law is not to be implemented in Andalucía, because regional governments have devolved competencies on housing matters.
This means that, while other regional governments in Spain increase property taxes; impose rent controls by dictating at what price an owner can, or cannot, rent out a property; increase the difficulty of repossession due to non-payment of rent or squatters; etc,; in Andalucía these will not take effect. That should translate into attracting more foreign investment, increasing the supply of rental property, spurring job creation and wealth. If permitted to carry on in parallel for some time, it will be interesting to compare the effects of these two systems, and which brings most benefit to the citizens of the areas
This information is a permitted summary extract from an article by Raymundo Larrain Nesbitt, published in Spanish Property Insight.