Sumar proposes to triple the IGIC on vacation homes

Its objective is to reduce its profitability so that conventional long-term rentals increase

January 22 2025 (10:31 WET)
Updated in January 22 2025 (13:29 WET)
One of the vacation homes offered in Playa Blanca, Yaiza. Photo: Juan Mateos.
One of the vacation homes offered in Playa Blanca, Yaiza. Photo: Juan Mateos.

Movimiento Sumar has proposed modifying the IGIC rate for tourist homes in the Canary Islands, increasing it from the current 7% to 20%, with the purpose of reducing the profitability of this type of accommodation and making more housing available for conventional rentals.

In a statement, Sumar in the Canary Islands has assured that this measure could contribute to making more housing available for rent to the Canarian population, alleviating the lack of houses on the archipelago.

At the same time, it has criticized the Government of the Canary Islands (CC-PP) for refusing to apply the State Housing Law, but also for suffering from a "total inaction" in the face of the housing problem on the islands, which affects the well-being of the majority of its population.

"For this reason, we urge the PSOE, in coherence with the state agreement, to present this initiative of a 20% IGIC for vacation homes in the Canarian Parliament," requested the Sumar movement, which in the Canary Islands does not have institutional representation in any public administration, neither at the local, regional, nor state level.

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