Promotors Are Cancelling Building Licences
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The building crisis is causing something previously unknown in Alicante, that is the request for cancellation of building licences by property promoters.
Eight applications have been received in recent weeks, which coupled with a reduction in the request for building licences, shows that construction industry is around 80% down, an important indicator as to the depth of the economic decline.
The cancellation requests have produced surprises in the Management of Urbanism as they do not remember anything like this in previous periods of crisis.
The greatest benefit for the developer will be to save tax lodged with the authorities for the building project. The cancellation means that if the tax has already been paid, the municipality is obligation to return it.
23/07/08)
Taken from Algorfa news
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