Housing developments funded by construction companies and investment houses have been launched in the province of Malaga.
Spanish construction companies and investment funds have applied for and changed the licenses they had into residential permits in order to build buildings and much-needed houses for rent. Once built, the companies will keep the properties in their portfolios and rent them out themselves or through companies that manage their portfolios.
In the current face of market volatility, this is classed as a safe haven. With the rise in new house prices, which continues its upward trend, the dwellings are almost a luxury item, and the perfect product for digital nomads and workers who come to the city to join the new technology companies that are being established on the Costa del Sol.
Housing market trends are changing
“The promoters are now betting on housing for rent, in fact, there are several developments in the city whose promoter companies had requested a license to carry out sales promotions and have requested the conversion of those permits for rent,” explained the mayor of Territorial Planning, Raúl López. There is also, of course, the trend of companies that had always built residential complexes of new housing that now seek to make promotions for rental units.
The Spanish Prime Minister Pedro Sánchez announced on Tuesday, October 5, that a new housing law that is ready to be introduced will include a voucher to help young people. The “youth housing voucher” aims to help young people become independent and rent somewhere to live.
It is expected that the housing voucher will be worth a minimum of €250 per month and it is planned to last for two years. The voucher will be aimed at young people between 18 and 35 years of age- the voucher is only available to those who have an annual income of less than 23,725 euros.
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