The wording of the Spanish Law 12/2023 of 24 May on Housing (Ley 12/2023 de 24 de mayo por el derecho a la vivienda) (the "Housing Law") has finally been approved after more than one year of negotiations between the Spanish government and its parliamentary partners.
The Housing Law includes measures aimed at affording (further) protections to tenants under residential lease agreements, such as rent caps and additional extensions. Moreover, it sets out to increase the public housing stock and the offer of dwellings on the rental market by imposing tax penalties on vacant dwellings and granting favourable tax treatment to landlords. Finally, the length of eviction proceedings is extended when the foreclosed party is a person in a position of financial vulnerability. The market will observe developments with much interest to determine whether or not the objectives pursued with this law are achieved.
Please find below a brief summary of the main aspects foreseen under the Housing Law:
- Public housing.
- Stressed housing market areas.
- Other implications for lease agreements.
- Caps on rent reviews.
- Taxes.
- Eviction proceedings.
Read the complete e-bulletin, here.
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