New renting agency to relieve housing crisis

25th February 2005, Comments 0 comments

25 February 2005, MADRID-The Spanish government launched a new agency to encourage people to rent their second homes as a way of alleviating the housing crisis.

25 February 2005

MADRID-The Spanish government launched a new agency to encourage people to rent their second homes as a way of alleviating the housing crisis.

Many young people cannot afford to buy their homes as housing prices continue to rise, going up 17 percent last year.

In an effort to provide more homes, the Socialist government has created a public rental agency, which was launched on Friday.

It aims to encourage Spaniards who own one or more properties to rent out these homes, putting more affordable properties onto the market.

In many parts of Spain, there are a high number of properties which lie empty as families keep them to hand on to family members.

Meanwhile, in a series of other measures, the government also approved a scheme to pay EUR 94 more each month to long-term unemployed once they have found work.

The idea is it will encourage the long-term jobless to find work.

The Socialist also administration also announced a plan to help key industries, tourism and textiles, the later of which is concentrated in Catalonia in north-east Spain.

In an effort to encourage businesses to invest in IT, they will raise the rebate which businesses can claim from tax if they buy IT systems from 10-15 percent, particularly for small and medium sized businesses.

Capital investment companies are to benefit from a reform of the administration system, which should make it easier to set up a new firm.

A new state body is to be created, which will be devoted to attracting more foreign investment in Spain.

The Spanish government is to encourage more competition in the transport sector.

And a new public regulator will champion consumer rights with regard to public services and monitor the behaviour of politicians, who are to be subjected to a code of conduct for the first time.

[Copyright EFE with Expatica]

Subject: Spanish news


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