Spain’s Radical Plan to Fix the Housing Crisis

[@andrewdavies8954]

I have lived in Galicia for 15 years, the rental prices have rocketed, there are almost no non Spanish people here , all the houses sold here are bought by Spanish nationals mainly Madrid residents as 2nd/holiday homes . It's got nothing to do with a "foreign invasion "

[@EdMcF1]

It rains in Galicia.

[@PolarisMidnightSoldierLux]

I hope things go well! Everyone deserves decent, dignified housing

[@tomperry6053]

Well done Stuart. I thought I would wait and see what you made of it. All the other videos seem to be just concentrating on the 100% part of the announcement.

[@MarI-Posa]

Well done on a good explication of all the measures

[@jennetdecaresle5174]

Very informative and interesting detail Stuart. Thanks. 👍🏼🙏🏼

[@kevtheargonut]

Thanks for taking the time to do that Stu. Really informative. 👍

[@yolieslife1111]

I'm glad they are finally doing something. We retired here in 2017 and chose not to buy for many reasons. Leasing/renting a home after 2019 became very difficult. We moved 3 times because landlord(s) either wouldn't renew the contract, because they were moving Mother in (building caretaker said that was a lie, but what can you do) or turning it into seasonal housing after owner passed away. or they just wanted to raise the rent beyond our budget allowance. After my husband passed this past Feb. and I needed to downsize. Struggled for 4 months to find affordable housing. I finally had to settle for an overpriced run-down apartment. I'm just thankful I found a place run-down or not. 😊 Maybe there will be more choices for everyone. Love Spain and looking for my 10-year resident renewal in a few years.😊

[@upcycledcopycat8389]

Surprised there isn't anything about short term rentals for tourists. Some hosts have upwards of 20 properties. That's ridiculous in a tight housing market. It's become a business for way too many. Although I do prefer to stay in them, if there were more apartment hotels with 2+ bdrms instead I would certainly stay in them. Both Portugal and Spain need to do something about all the short term rentals.

[@SycAamore]

Well, the PM said that he will make it very difficult for anyone to make a profit. Let's see what he will actually implement. I guess there will be higher taxes and more stringent rules. And all these ppl with multiple properties will slowly go bust...hopefully...

[@danquixote6072]

..and put a kettle

[@TheDirkdams]

I you see the price for a two room appartement here in de region of Benidorm you wonder how a normal working family can afford this ! 800€ minimal knowing that you earn about 1200€ ! Almost all sold appartements end up in holiday rentals . Some are forced to rent wayout the region but than you got the Cost of commuting

[@jamespatterson9890]

Good blog. Portugal will be rubbing their hands with these proposals as they will make Portugal an even an even more attractive place to buy a holiday home or retire for non Eu nationals. As regard’s property rentals prices i’ve noticed a massive increase in rents since thousands of Ukrainians and Russians moved to Spain. In fact the my area of Costa Blanca a large proportion of Estate agents are now Eastern European and rents are now daft, having previously remained very affordable for years!

[@PaulCousins-ko3jd]

Hola Stuart, I understand that something must be done to tackle affordable housing,but point 10 is discriminatory. Just like the UK our supply of affordable public housing was enabled to be bought at a substantial discount and then sold at market prices, then with Spain the demand for rental homes is enormous. What governments need to do is get the balance of housing stock correct, institutions and investors have created this situation and it’s only getting worse!! Well done for explaining the points 👏🏾👍🏽🍷

[@jacquesblignaut7844]

Sounds good and all, but with the Spanish bureaucracy, it will probably take from 5 to 10 years to get off the mark.

[@d.f.9064]

The world is watching as this is a problem almost everywhere.

[@diegodejuan4825]

I am very, very sceptic about these measures. All measures controlled and driven by public powers and its cumbersome (and costly) bureaucracy. Including following official intervened prices to get tax exemptions, and guarantees to owners that their rent is backed by the state! (France is not a good model for anything economical and sustainable, sorry). SOCIMIs getting tax exemptions if tied to promoting affordable rental hosing seems a good idea, but not sure it will create demand from investors (when the cost of opportunity may lean to other type of real estate as Data Centers). I would prefer incentives for the owners without the state intermediating in the middle (bound to failure and costs). For example: paying less taxes on rentals and enforcing security against squatters (0 talk about this from the government). Prices would behave less crazily too.

[@jorgesobredo7842]

As long as the supply of housing is not directly addressed and encouraged, streamlining the current burdensome regulations and bureaucracy to facilitate construction sites and building procedures, these measure will be a drop in the ocean and, as you correctly implied, very just publicity

[@robdean335]

Loads of empty houses where I am. They even knock them down! Think there's organised crime involved though! And also a lot of fraud I believe. Best wishes from a severely corrupt area.

[@thomashumber9762]

AS I JUST WROTE. TOTALLY AGREE WITH YOU

[@lizcoleman5229]

Great information Stu! Regarding point #3, is that for new public houses that will be built or does it also go back to older public houses as far as remaining public indefinitely?

[@BruceHamilton]

I need to comment more. Thanks for the videos, I'm moving from the ol' Americas to Spain next month. Good coverage of current events and the country in general!

[@jonathangat4765]

Good report, Stu. Thanks for the information. Interesting they chose to try a program that exists in France. Anyone trying to find I place to live in the Paris region might question its efficacy but time will tell. Everyone bashes the foreign buyer, even though they're a relatively small bunch. It's easy to take a visible (audible) minority and blame it for a deep-rooted problem.

[@thomashumber9762]

TOTALLY AGREE

[@dudeleboski2692]

Non EU includes Brits I presume

[@DropdudeJohn]

Yep, that's fine, we are now outside of the EU, we had and are still having a housing crisis thanks to freedom of movement through being in the EU

[@jonibz1456]

@@DropdudeJohn More like not having enough affordable housing built

[@SycAamore]

People say this will no make difference to the housing market in Spain because non-EU buyers are a small portion anyway and properties would be snapped by EU nationals. That's quite wrong. Their PM wants to send a message that buying a property in Spain to make money will become very, very difficult in the future, no matter whether you are from the EU or not. I think that's right, but he should have included EU nationals in the plans as well. Anyway, I expect to see some seismic changes in the property market in Spain if they accept this legislation. I'm starting to think that at least -40% price falls would be seen...at least.

[@thomashumber9762]

ALREADY THERE IS A 10 YR RULE

[@SycAamore]

@@thomashumber9762 What is that rule?

[@charliethechaste]

Nice to see them trying to help at least.

[@tomm5228]

Wales 100% on 2nd homes council tax that should go local councils 👍

[@banksiasong]

Brava España! 🇪🇸

[@neilcvernon6957]

Brits Out !

[@thomashumber9762]

YES LETS BUY IN ITALY

[@slimynaut]

walking towards communism

[@MariaNI-yf1bz]

Nothing to do with communism. Locals first.

[@FrankLloydTeh]

Good. Because right now, it's pure unchecked capitalism that emphasizes profits over people owning their homes.

[@DropdudeJohn]

@@MariaNI-yf1bz Brexit

[@zrymill]

Just putting their own people first. Housing is a right, without it, nothing else in society works. In most Western countries work is all about paying the rent forever, and never owning a home or having a family, which would lead to people simply overthrowing the corrupt government, its happened so many times in history.

[@Yocambio]

You are utterly deluded.

[@joehodgson2815]

If they cracked down hard on squatters, then thousands of landlords would take the risk of renting out properties - right now landlords are (rightly or wrongly) terrified of the potential risks.

[@diegodejuan4825]

Spot on.

[@foff9275]

Podemos has the correct solutions, force lower the rents by 40% and make it illegal to own a home that is not your primary residency. Problem solved. Gracias Podemos

[@henniemyburgh6873]

Hardly 30 000 Golfen Visa Owners that the working Spaniards cannot afford in any event.. political excuse. Me, considering to disinvest and go elsewhere, and the buyers will be top Spain earners.

[@xiaomistijn4743]

One of the strange things is that no one ever mentions a basic factor: human greed. I find it astonishing that boomers' greed is completely taken for granted. "If there is a housing shortage "off course" I'm going to charge 1.700 EUR for what used to cost 800 EUR! That's a law of physics, isn't it?!" Yes, I know ... supply and demand, yes, yes, but still. No moral compass whatsoever anymore. I really hope young people today remember what they've done to them and present the older generation the bill (figuratively and litterally) when they'll need medical assistance in their later years. Housing (and a job) is the BASIS of EVERYTHING in life!

[@jasonaris5316]

As long as EU citizens can still buy this is going to make zero difference

[@KieranKelly-o9s]

We should do this in Ireland

[@thomashumber9762]

IN UK !!!!! BUT IT IS TOOOO LATE

[@alexbryce3715]

Some of the Spanish Estate Agents must be spitting nails Stu. What a load of crap from Sanches.

[@javiermartin2674]

Can I summarize the Moncloa´s plan? :Just Pure smoke: socialist propaganda like in Venezuela

[@Yocambio]

Was waiting to see if the anti-socialists would crawl out from under their rocks but surprisingly few of them today.

[@zrymill]

Wow, a government with some brain cells for a change. I love the zero income tax if the rent is kept within the government band. Loads of good ideas in this list. Hopefully the brain dead UK government will get some inspiration.

[@diegodejuan4825]

It is demonstrated that price intervention kills the offer. Soviet five-yearly plans were not a success.

[@patmuller4461]

I think the ideas have potential. I would like to see added protections against okupas so more landlords would be willing to rent. Also, there are many street level store fronts that are empty, you could offer incentives to reform those as rentals also. As an older person, I can only get a mortage until age 75 and that makes the monthly unaffordable to purchase. Also, making rent to own more lucrative for the tenant would help. I am afraid the profit motive might put some of these ideas by the wayside. Instead of building more housing, focus on increasing occupancy. In my building half the apartments are empty, even during tourist season.

[@christinestranz2775]

That's not going to improve anything.