Catalonia to Gain €25 Million From Tax on Empty Homes

5/03/2014 – Expansion

The Regional Government of Catalonia did not get away with the tax on banks´ deposits but in the following months it is expecting to gain from the tax imposed upon empty homes in their balance sheets. The President gave the green light for the new regulation that is supposed to bring between €13 million and €25 million revenues from 2015 on.

The charge will be of €850 per house and €1.650 per year, according to the square meter area of the dwelling in a bank´s ownership. The tax will solely affect homes that have been empty for the last 2 years without any reason. (…) Therefore, the charge for a 10.000 sqm unit will be of €3 to €6, of €7 to €10 in case of a 50.000 sqm dwelling and between €11 and €20 per sqm if total area exceeds 50.000 sqm.

Moreover, the Government will give a 10% bonus for the banks that mobilise between 5% and 10% of their vacant housing stock and 75% bonus for the banks that put for rent at least 40% of their stock.

Catalonia estimates that there are 80.000 empty houses within the province, out of which 40.000 belong to banks. Out of those, around 15.000 units are scattered over seventy municipalities with real demand. The bulk of assets is found within the Barcelona city, inhabited by almost a half of entire Catalonian population, in Camp de Tarragona, Girona and Lleida.

The Regional Government assures that its aim is not adding to its own revenues but to force the banks to put houses in their balance for rent. In the last weeks, the administration unit has come to an agreement with Bankia, Sareb and Catalunya Banc among others, as a result of which the entities will grant dwellings for social renting. (…).


Original article: Expansión (M. Menchén)

Translation: AURA REE