Barcelona real estate news

Barcelona real estate news

Barcelona real estate news

The Spanish government will make properties purchasing easier for foreigners

The goal of the Spanish government to heal the housing sector seems clear: get rid of the 'stock' as soon as possible. For this, the Industry Minister, Jos Blanco, has announced a new measure: the Government will establish a commission to assess the reforms undertaken and to share strategies for the development of properties and land packages that could be offered domestically and internationally.

In the Housing Commission of the Congress of Deputies, the Minister underlined that the first meeting of that organization will be held in the first half of January. It will be permanent and will involve representatives from the financial and barcelona real estate news sectors. Only in the second quarter of 2010, sales of properties to foreigners, encouraged by falling prices, already increased by 46%.

Focusing on the international market, Blanco says, "We will take steps to enhance legal certainty for those who want to purchase a property" in Spain. For instance, one of the measures will argue that when you start a file for illegal license, the buyer will not be affected, except if this irregularity has already been recorded in the registry.

In addition, the Industry Minister said that "in order to facilitate property acquisition to foreigners" an international information campaign will be conducted to explain these new measures which "provide greater legal certainty."

In any case, the minister wanted to make clear that the State's role in reducing the 'stock' is "limited." He added that eliminating the surplus of unsold flats "is a sensitive task, which cannot be completed at one, but neither, can last forever." "The main mechanism to achieve this is a market based mechanism, which consist in having a competitive offer for the type of properties and land for which the supply excess is more obvious" he said

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