New Land Law to Affect Property in Spain
New Land Law to Affect Property in Spain Date: 16/04/2007
A new land law will come into effect in Spain on July 1st, when the 'Ley del Suelo', or Land Law, is introduced. The law has been introduced to control the usage and development of land in Spain.
The new law will require all owners of the land for the previous five years to be identified. Undoubtedly this will affect those thinking of building their own
property in Spain. Effectively it is designed to control the spread of development in Spain by revealing the recent history of land ownership.
The law has been seen as the latest in a series of tough measures designed by the Spanish government to control not only the Spanish property market but also to uncover and tackle the corruption which many say is ingrained in the property market in Spain.
The law also prohibits town halls from receiving money from Spanish property developers until they receive authorisation for the change of land use from the provincial town planning delegation of the regional government.
The law sparked a rush by some town halls in Spain to approve developments waiting for clearance ahead of the deadline. Any applications after the deadline are subject to clearance by the provincial town planning delegation.
Although it is beneficial to be aware of recent developments when viewing
investment property for sale in Spain, the law will primarily affect property developers.
Property News Source: The Sara Service
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