This idea has been talked about on the forum in the past as a possible solution for properties sitting unsold due to overdevelopment.
It now looks like in Valencia, the Generalitat regional government is looking at this idea, suggesting a change in housing regulations which would allow them to sell unsold properties in the region as VPO assisted or council housing.
It’s estimated that there are as many as 50,000 properties which could be used in such a way in the region.
The Generalitat wants to try the idea with an initial 10,000 properties and the method would see them falling in price as part of the VPO scheme by some 15,000 €.
Beatriz Corredor, the new Housing Minister, met yesterday with The Regional Councillor for Housing to talk about the plan.
He said the properties would only be made available to those who are resident in the Valencia region and who earn as much as 45,000 € a year. Currently VPO is only open to those who earn, in Alicante for example, 20,000 € a year.
@Last week Shakeel wrote:
Spain’s new Housing minister, Beatriz Corredor, has now come up with a plan to tackle the crisis facing the construction industry that she will present to Economy minister, Pedro Solbes, later this week.
We now know what Beatriz’s plan was, maybe she’s been reading SPI. 😉