Fomento pass new plan to reduce stock property in Spain
15 May 2012 @ 22:26
Ana Pastor, from the Ministry of “Fomento” (Development Minister of Spain) announced a new long term plan to improve development and expansion in road communications, public transport and the property market today. She said it was time to say goodbye to the “Pharaonic development” that has taken place in recent years and the new plan will offer incentives starting in 2013 with changes that will be gradually implemented on the "horizon", as far into 2024.
As for the property market, Pastor announced the extension, with little change to the previous government's incentive, in relation to long-term rentals and the nationwide refurbishment of "cascos antiguos" (old towns) in order to improve properties that are more than 30 years old.
It was added that newer measures will also be taken to tackle and reduce the stock problem that Spain currently has, an astonishing reality that has now reached over 700,000 unsold properties.
The final decision is to “eliminate” unjustifiable burdens / encumbrances on land and planning.
El AVE, high speed rail link will continue to develop in practically all areas of Spain meaning that funding will continue to be injected into this ambitious and exciting project, offering a more comfortable and rapid means of transport throughout Spain.
As far as road communications are concerned, it would be hard to knock the Spaniards when comparing the time it takes for road works to be finished in the UK but still, the Spanish government will strive to make road connections even better throughout the nation.
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