The real estate market in Barcelona is undergoing a period of transformation with the recent approval of the New Housing Law. This legislation aims to establish a framework for housing access in the city. At Immobarceló, we want to keep you informed about the key aspects of this new law, the fiscal benefits it entails, and how to take advantage of it to save money when acquiring or renting your home.
The new Housing Law in Barcelona offers fiscal benefits that can lead to significant savings for those who adhere to its conditions:
1. Property Tax (IBI) Deductions: Owners who rent their properties at prices within the limits set by the law will have access to deductions in the Property Tax. This measure aims to incentivize collaboration to maintain affordable rental prices and provides fiscal relief to owners committed to this cause.
2. Reduction in the Property Transfer Tax (ITP): The acquisition of properties destined for social or affordable rental can benefit from a reduction in the Property Transfer Tax. This measure aims to encourage investment in housing with social purposes and increase the availability of affordable housing in the market.
3. Fiscal Incentives for Rehabilitation: The new housing law in Barcelona includes fiscal incentives for owners who carry out rehabilitation works on their properties. These incentives aim to improve the quality and sustainability of existing housing, promoting a more efficient and environmentally-friendly real estate market.
One of the most notable measures of the new law is the control of rental prices in certain areas. With the goal of avoiding abusive increases and providing greater stability to tenants, limits are established on rents based on the characteristics and location of the property.
The law encourages affordable rental and establishes mechanisms to facilitate housing access for those with fewer resources. Collaboration between the Administration and property owners is promoted to ensure the availability of units at reasonable prices.
The new law reinforces tenants’ rights by increasing the minimum duration of rental contracts and establishing mandatory extensions. This provides greater security and residential stability for those who choose renting as their housing option.
With the aim of balancing the market, the law regulates tourist housing to prevent its negative impact on residential rentals. Specific requirements are set to obtain a tourist rental license, and sanctions are implemented for those operating outside the regulations.
Taking advantage of the benefits of the New Housing Law in Barcelona can result in significant savings for both tenants and property owners:
Tenants will benefit from rent price control, as they will have the security of rents staying within reasonable limits. This allows them to allocate a smaller proportion of their income to rent payments, freeing up resources for other expenses or savings.
Those interested in investing in the real estate market can leverage the law to acquire properties intended for affordable rental. This not only allows them to contribute to social well-being but also entitles them to the reduction in the Property Transfer Tax and IBI deductions.
Owners who carry out rehabilitation works on their properties to enhance energy efficiency and sustainability can access fiscal incentives. This represents significant savings in the total cost of the works while contributing to the preservation of Barcelona’s real estate heritage.
The New Housing Law in Barcelona represents a significant step towards a more equitable and sustainable real estate market. Its key aspects, fiscal benefits, and opportunities for savings offer a promising scenario for both tenants and property owners. At Immobarceló, we are committed to providing personalized advice and guiding you through the process of acquiring or renting your new home based on the principles of this new law. Contact Immobarceló to start enjoying the advantages of the New Housing Law in Barcelona and find the home you’ve always desired!
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