Asprima (the Association of property developers Madrid) will take action against the Housing Act adopted last week by the Cataluñan Government for being “unconstitutional”.
The president of Asprima, Juan Antonio Gómez-Pintado, has expressed caution regarding the capping of rental prices, stating that in cities where rent caps have been introduced, such as Paris and Berlin, policymakers have actually ended up achieving the opposite effect.
Gómez-Pintado went on welcome the public-private partnerships that are being adopted to help young people access the property market, but he warned that if there’s not enough profit margin and legal protection for property developers, then private companies will steer clear of such initiatives.
He also noted that new home starts in Barcelona have decreased by 55% in the last year in light of the legal uncertainty and the fallout from the ‘Procés’.
