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Spain to Rein in Housing Costs Surge With Rent Controls

  • Draft law mostly targets big property investors in Spain
  • Rent controls to be imposed in areas with rapid rent increases
Spain's Most Aggressive Rent Controls To Hit Barcelona
Photographer: Angel Garcia/Bloomberg

Spain approved a plan to introduce rent controls and increase taxes on some vacant homes in a bid to make housing more affordable after a surge in costs threatened to price those on lower incomes out of the market.

The housing bill will set limits on how much landlords with multiple residential properties can increase rentals, Spain’s Minister of Transport, Mobility and Urban Issues Raquel Sanchez said. It increases taxes for owners who leave multiple homes empty and may require some new real estate developments to set aside some properties for social housing.