The Socialist Party has registered in Congress a bill to promote affordable rentals in line with the announcement that President Pedro Sánchez made in January to address the problem of housing shortages.
The document includes measures to limit vacation rentals, preserve the public housing stock over time, and limit the purchase of homes by foreign citizens who do not reside in Spain.
It is estimated that up to 450,000 homes are needed in our country. This is why the Government intends to increase the VAT on tourist apartments to 21% and increase taxes on empty homes to 3% through personal income tax.
In contrast, the document includes a reduction in personal income tax of up to 100% for those who offer residential rentals that remain in line with the state reference price index.
It also provides for deductions of up to 85% for landlords who, even if they do not charge below the reference index, carry out a reduction in the monthly payment or bring a new home to the rental market.
In addition, it plans to create a new tax for non-resident foreigners who acquire a home in Spain, the amount is yet to be defined, but will depend exclusively on the central government.
