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The Opposition Party counter Sanchez’s suggestions with offers of TAX CUTS for foreign investment
The opposition People's Party (PP) in Spain has unveiled a comprehensive strategy to address the country’s housing crisis, articulated through the Asturias Declaration. This policy announcement, presented at a summit in Asturias, underscores the PP's approach to creating pragmatic solutions aimed at housing affordability, increasing housing supply, and reducing bureaucratic barriers, all while maintaining a climate conducive to foreign investment in the construction sector.
Key Housing Proposals:
Reduced Property Transfer Tax:
A proposed cut to 4% for buyers under 40.
Income Tax Deductions:
Focused on investments in primary residences, energy-efficient improvements, and rentals to specific demographic groups.
Financial Assistance:
Guarantee programs for young buyers to secure 100% mortgage financing.
Boosting Housing Supply:
Mobilization of public land through public-private partnerships.
Incentives for property owners to release vacant homes into the rental market with safeguards against non-payment.
Squatter Issue:
Repeal of the Sánchez government’s Housing Law, seen by the PP as too lenient on illegal occupiers.
New legislation to allow expedited 24-hour evictions and stricter penalties for squatting.
Rent Controls:
Repeal of rent control measures, which the PP argues distort market dynamics.
Bureaucratic Streamlining:
Faster urban planning approvals and reduced administrative red tape.
Criticism of the Current Government:
The PP did not shy away from critiquing the policies of Prime Minister Pedro Sánchez and his Socialist government (PSOE), alleging mismanagement and authoritarian tendencies. PP leader Alberto Núñez Feijóo emphasized that the current administration’s rent control measures and housing policies have aggravated the housing crisis rather than alleviated it.
Political Context:
The Asturias Declaration positions the PP as a viable alternative for addressing housing concerns and broader national issues. By combining measures to support young buyers, attract investment, and ensure legal protections for property owners, the PP seeks to differentiate itself with a more market-driven and investment-friendly approach compared to the current government.
This development highlights an ongoing debate in Spain over the balance between social housing policies and market-driven solutions, with significant implications for voters, investors, and the broader real estate market.
Posted by: Adam Hatton on 22/01/2025
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The Costa Blanca's Zenia Boulevard shopping center continues to solidify its reputation as a key driver of economic growth and community development. With record-breaking footfall in 2023 and significant ongoing renovations, the mall’s success offers a compelling case for property investment in the surrounding area.
Record Footfall Reflects a Thriving Economy
In its 12th year, Zenia Boulevard welcomed an unprecedented 15 million visitors in 2023, marking an impressive 8.6% increase in footfall compared to 2022. Peak months saw staggering traffic, with 1.8 million visitors in July and 1.7 million in August, underscoring the area’s year-round appeal as a retail and leisure destination.
Such figures not only highlight the strength of the local economy butalso demonstrate the sustained demand for tourism and services in the Costa Blanca. For property investors, this translates to growing interest in both short-term vacation rentals and long-term residential opportunities.
Renovations Signal Long-Term Growth
Zenia Boulevard is undergoing a transformative €18 million renovation, set to complete by March 2024. Upgrades include modernized facades, improved paving and rest areas, enhanced dining spaces, and revamped children’s facilities.
The addition of solar electricity installations and a micro water treatment plant highlights the center’s commitment to sustainability, with a projected 40% increase in renewable energy usage and up to a 15% reduction in water consumption. These forward-thinking initiatives are expected to attract even more visitors and tenants, further boosting the mall’s reputation and economic impact.
What This Means for Property Investors
Zenia Boulevard’s growth mirrors the broader appeal of the Costa Blanca as a hub for tourism, shopping, and lifestyle. Investors can capitalize on several key opportunities:
- Vacation Rentals: High visitor numbers create strong demand for nearby holiday accommodations, ensuring excellent occupancy rates and rental yields.
- Residential Demand: Families and retirees are drawn to areas with top-tier amenities, such as Zenia Boulevard’s shopping and leisure facilities.
- Commercial Potential: The influx of visitors provides opportunities for retail and service-oriented property investments near the mall.
A Future-Proof Investment Destination
As Costa Blanca continues to attract international attention, areas surrounding thriving developments like Zenia Boulevard are poised for sustained growth. The shopping center’s success and ongoing upgrades signal confidence in the region's economic future, making now an opportune moment to invest in property.
With a combination of increasing tourism, modern infrastructure, and a commitment to sustainability, the Zenia Boulevard area offers both immediate returns and long-term value for savvy investors.
Posted by: Adam Hatton on 05/12/2024
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Costa Blanca tourist officials have been promoting the region at London’s World Travel Market, focusing on strengthening ties with the UK — its largest foreign visitor base — and exploring opportunities in emerging markets like China, the U.S., and Eastern Europe.
Jose Mancebo, director of the Costa Blanca Tourist Board, noted that 35% of foreign tourism in Alicante province comes from the UK. In 2024, British visitors are staying longer (7.3 days on average) and spending more — up 14.1% from last year. Benidorm remains the top destination, attracting around 60% of British travellers.
The Costa Blanca delegation also met with China Travel Online, the largest holiday portal in Asia, as well as tour operators from the U.S., Poland, and Italy, opening new doors for international tourism.
Investment Opportunities
For property investors, this growing influx of international visitors presents a promising opportunity. With rising demand for short-term rentals and vacation homes, especially in The Costa Blanca, the region is set to see strong rental yields.
The expansion into new markets also signals potential long-term property value growth. As Costa Blanca becomes an increasingly popular destination, both for tourists and investors, now could be an ideal time to invest in property, with strong returns and future growth expected.
Posted by: Adam Hatton on 26/11/2024
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The City of Torrevieja is currently allocating significant funds for its La Purísima and Christmas festivities. The total budget, not including last-minute concert expenses, stands at 1,500,000 euros.
The Council has tendered nine public contracts for various items and events, such as costumes and accessories for the Queen of the Salt and her Ladies, costing 13,000 euros, and the Diego Ramirez Pastor Award Gala, priced at 17,477 euros. In addition, the lighting for festivities and Christmas alone costs close to half a million euros.
Additional expenses include organising and producing Christmas activities (200,000 euros), La Purísima patron saint festivities (208,373 euros), and assembling of the municipal nativity scene (80,000 euros). The Salt Queen Gala costs 46,451 euros, while the Three Kings Parade will set us back in the region of 237,000 euros.
A concert by Lori Meyers Granada, costing 160,000 euros, will also be approved by the Council soon. Other events, like Halloween and this weekend’s gastronomic festival, further add to the spending, with the latter budgeted at 69,271 euros.
The question arises as to whether this extensive outlay is justified, considering the current economic situation of many residents and the significant amounts of taxpayer money involved, or whether the Christmas spending of Torrevieja City Council is simply spiralling completely out of control.
Sorce: https://theleader.info/2024/11/16/is-torreviejas-christmas-spending-out-of-control/
Posted by: Lloyd Anton Kelly on 25/11/2024
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The Torrevieja Socialist Municipal Group is making waves with a bold motion aimed at transforming the way minor contracts are awarded in the city. If approved, this initiative will open the door for any interested party to compete for contracts related to works and services, shaking up the status quo and tackling cronyism head-on. Not only does this promise to boost local businesses, but it also aims to save taxpayers money in the process.
Presented at the council's plenary session, the motion seeks to shine a spotlight on the process of awarding minor contracts, ensuring transparency and inviting fair competition. By doing so, it hopes to drive down costs and encourage a diverse range of service providers to step up and offer their expertise.
Currently, minor contracts encompass projects with an estimated value of less than €40,000 for works and under €15,000 for supplies or services. However, the Socialist Group points to a troubling trend within the Torrevieja Council: a frequent misuse of these contracts. A 2023 report from the Council's Legal Department warns that minor contracts are being routinely awarded, raising concerns about potential "unwanted legal consequences.”
Evidence suggests that some of these contracts may border on fraud. The council has been known to invite companies with shared management or those far removed from the local area, often benefiting individuals linked to the ruling PP members. Alarmingly, there have even been instances where companies were hired for tasks that should fall under the council's own staff duties. A striking example is the €18,000 paid for an appraisal of the Los Romeros property, when the average market price is just around €2,000. This kind of inflated pricing through minor contracts raises serious questions, especially when market rates are significantly lower.
With this motion, the Torrevieja Socialist Municipal Group aims to usher in a new era of accountability and fairness in local contracting, paving the way for a brighter future for businesses and residents alike.
Posted by: Adam Hatton on 21/10/2024
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