Property Developers Ask for Public Guarantees and for VAT on New Home Purchases to be Reduced

23 April 2020 – Brainsre.news

APCEspaña is proposing a series of measures to improve access to housing and increase sales, such as the approval of guarantees and lines of credit to subsidise loans.

The Association of Property Developers of Spain (APCEspaña) has asked the Government to put in place measures to alleviate the effect of the coronavirus on the housing market, including credits guaranteed by the State and the reduction of taxes for the purchase of first homes.

One of the priority measures to improve access to housing for young people and increase sales is the approval of guarantees and lines of credit for first home loans that stimulate purchases. This has been introduced successfully in other European countries, such as the United Kingdom. “This measure does not entail a cost for the State, as it is not classified as debt,” says the association.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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