One million homes: Feijóo seeks bank deal in Spain
One million homes and 500,000 jobs in Spain: Alberto Núñez Feijóo wants to strike a deal with banks to help pay for building and buying them. The leader of the opposition People’s Party set out the plan in Madrid on Tuesday, 3 November. He says he would pursue it if he takes power after the 29 November election.
At an event organised by Europa Press, Feijóo said access to housing needed urgent action. He believes he can reach an agreement with banks over loans for developers and mortgages for buyers. He did not say where the homes would be built.
Tax cuts for first-time buyers
Feijóo proposes a 60% tax cut for people under 40 buying their first home. His plan would lower VAT on new homes from 10% to 4%. For existing homes, he would cut property transfer tax from 10% to 4% and let buyers spread that payment over the years of their mortgage.
He also wants a home savings account with tax deductions during a person’s first four years of work, and public guarantees covering up to 100% of the security banks require. Renters would get tax deductions linked to their income. Landlords would get tax breaks if they extended contracts by three years and raised rents by less than inflation.
Building permits after 90 days
Feijóo also wants councils to publish how long they take to handle planning applications. If a council did not answer a building permit request within 90 days, the permit would be granted automatically. Work could still be stopped later if the developer broke the rules.
If elected, he says he would change land and property ownership laws and bring in a law against illegal occupation within his first 100 days in office. For now, the housing plan remains a proposal tied to the election result.
Source: Europa Press / Mallorca.com