2013 has almost come to an end. We hope you can relax to focus on what 2014 will bring and should bring! For sure we wish for good health, less turbulence in the worldwide politics, reasonable and more flexible laws regarding the housing market in Andalusia and last but not least an improved bank system so more people can afford to live their dream in beautiful Andalusia.
Villas & Fincas News
Since the famous LOUA (urban planning law) for Andalusia was published in 2002 building on the countryside has been severely restricted. Over the years many amendments and regulations have been added to explain how the law needs to be executed. For properties on rustic land (suelo no urbanizable) this has rather large implications.
Various signals indicate that the porperty market in Spain is recovering. We at Villas & Fincas country properties have certainly noticed an increase of visitors on our website with over 30%, the actual inquiries on properties have gone up with an average of 25% comparing the same period in 2012. These increases are also reflected in the actual sales. The recovery is also confirmed by several of our collegues on the Costa del Sol.
In 2002 a new law (LOUA) came into place restricting building on the countryside in Andalusia. Although still not everyone is aware of the effects, this law has a major impact on building on rustic land (suelo no urbanizable). Over the years new specifications have been published, the last one in January 2013.
The 24th of May, the Spanish government has approved the draft of a law which facilitates the process of obtaining residency in Spain for non-EU investors. The main focus of this law is to boost the Spanish economy. With regards to the property market, residency will be granted to those who purchase a property over 500.000€.
If you own a country property or a villa in Spain, please pay attention if you receive a certified letter from the ‘ministerio de Hacienda y Administraciones públicas’ and notify your lawyer or gestor inmediately. Through areal photos the cadastre is ‘remeasuring’ and re-valuing property. In our case these ‘remeasurements’ were completely incorrect