The Consell de Garanties Estatutàries (CGE), along with the Constitutional Court in regional matters, has advised that the rule under consideration by Parliament to freeze any increase in rents, would infringe up the powers of the State.
The drop of 25.2% is, in reality, the smallest year-on-year drop since the beginning of the declaration of the state of alarm. Footfall had decreased by 89% in April and by 82.5% in May.
In July 2020, rental housing in Spain had an average cost of 975 euros/month, a fall of 1.52% m-o-m, according to the website pisos.com.
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Moncloa and Chamberí overtake the neighbourhood of Salamanca as the districts with the most expensive new build homes in the capital, whilst in Moratalaz there are no new build homes on the market.
The Supreme Court Annuls the Requirement to Notify the Treasury about the Transfer of Housing for Tourist Use
The High Court has annulled the article that regulated the obligation to inform the Treasury about the transfer of housing for tourist use by applying a ruling from the European Court of Justice regarding Airbnb.
More than 250,000 Britons reside in Spain, mainly in towns along the Mediterranean Coast where, in some cases, they outnumber the Spanish population.
High profile property developers, such as Aedas and ASG Homes, are sharing a leading role with local companies in an area where homes can cost more than one million euros.
The British investment manager is looking for a buyer for its real estate portfolio in Spain, which is valued at 700 million euros.
The sale of the first two portfolios post-Covid in Spain reflects the fears of the international funds, which are making offers with average discounts of 20%.