Govern will buy up empty properties

HOUSING PLANS: Baleares government will buy up empty properties Photo credit: Maria Rosa Ferrer

THE regional government will use €5.4 million of next year’s Budget to purchase empty properties for social housing.
The majority will be bank repossessions or those belonging to landlords or companies with large holdings of empty homes.
The Govern intends to acquire these properties exercising its “first refusal and pre-emptive rights” powers granted by a regional government decree that was approved last March.
It will also help to avoid a repetition of its previous loss of control over 5,484 VPO subsidised properties when they came onto the market some time ago.
The new Housing Law sidesteps this problem, as newly-constructed subsidised homes may no longer be sold on the open market and when they are put up for sale they will be price-controlled and must first be offered to the Govern.
The regional government hopes that this will allow the Housing department to increase its stock of social housing without having to build new properties, although construction will continue.
By the end of this year, 502 more properties will be completed or under construction and, if all goes according to plan, this number should double by late 2021, explained Marc Pons who  heads the Housing department.


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Written by

Linda Hall

Originally from the UK, Linda is based in Valenca and is a reporter for The Euro Weekly News covering local news. Got a news story you want to share? Then get in touch at [email protected]

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