Unfinished properties

Viewing 1 reply thread
  • Author
    • #189703

      We have a significant number of unfinished developments and villas (no more than concrete slabs with windows) in our immediate area, with very little prospect of this housing stock finding buyers. I know that some are privately owned and others are repossessed by the toxic bank. Might it possible for the Town Hall to impose a tax  on the unfinished properties? Suggest twice the level of IBI tax that completed properties pay and these taxes be backdated, as appropriate. This I would hope could focus the minds of the owners/bank to take action to finish or demolish these properties. If this is not possible, is there a law in Spain that allows a property to be compulsory purchased by the Town Hall, so that it can be demolished?

      What can realistically done to get these properties to completion or be removed from the landscape?

      • This topic was modified 4 years, 7 months ago by lovelocktfl.
    • #189780

      I don’t think that increasing IBI would make any difference. The toxic bank is looking for a way to minimise losses, so the bank would not want to pay additional IBI. Absent and insolvent owners would not be paying either, so the chances of collecting the additional tax are probably close to zero.

      As for compulsory purchase and demolition by the local Town Hall, do you think that local residents would agree to pay additional taxes to cover the cost of this ?

      I would guess that nothing is going to happen to these unfinished properties, and nobody is going to do anything  about them until it makes economic sense to do so. Given the current state of the property market in Spain, I would not hold my breath waiting for action in this matter.



Viewing 1 reply thread
  • The forum ‘Property Questions & Answers’ is closed to new topics and replies.