New land law aims to curb illegal building scandals
11 May 2007, MADRID – Spain passed a new law to curb widespread property speculation and illegal building.
11 May 2007
MADRID – Spain passed a new law to curb widespread property speculation and illegal building.
The Land Law, which was passed by the upper house of parliament, is also intended to bring house prices down.
One of the measures in the law is all areas intended for construction must have 30 percent dedicated to social housing.
Jose Luis Rodriguez Zapatero said: “This law’s success depends on compliance with our constitutional mandate to offer affordable housing to every citizen.”
Zapatero brought the law in after a series of property scandals liked to land speculation and corrupt councils.
The law, which will come into effect on 1 July, was supported by all parties except the main conservative opposition Popular Party (PP).
The PP claims rural land owners will lose out because house values will come down.
Pablo Matos, PP spokesman, said: “The law’s only value will be to cheapen the value of your house when the government comes to expropriate your house.”
[Copyright EFE with Expatica]
Subject: Spanish news