Transforming the Real Estate Landscape in the Canary Islands: Key Aspects of Decree-Law 1/2024
Canarinvest Properties, aware of the importance of keeping its clients and readers informed about the latest news and legislative changes affecting the real estate market in Gran Canaria, has prepared a detailed summary of Decree-Law 1/2024, dated February 19, published in BOC No. 037 on February 20, 2024.
This document introduces urgent measures in the area of housing in the Canary Islands, aimed at addressing the housing emergency and increasing the availability of housing. As follows, we present a summary of the key provisions and measures of this decree, with the goal of providing a clear and precise understanding of how these new developments may influence the real estate market and, more specifically, your investment and property management decisions in the area.
Key Provisions and Measures of Decree-Law 1/2024:
1. Declaration of housing emergency: The critical situation of access to housing is recognized, establishing it as a priority of exceptional general interest.
2. Increasing in the availability of land and buildings for residential purposes:
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Transformation of public dotational areas and facilities into plots for subsidised social housing.
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Reclassifiaction of premises and buildings for residential purposes.
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Advance implementation of general measures for subsidised social housing.
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Establishment of land use rights and concessions to build and manage social housing.
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Compatibility of residential and tourist use under certain conditions.
3. Management and realisation of social housing:Simplification of administrative and urban planning procedures to speed up the construction of protected social housing.
4. Promotion of social housing:Legislative modifications to encourage the construction of social housing, adjusting aspects such as the duration of the protection regime and the criteria for maximum permissible rent.
5. Simplification and acceleration of procedures:Urgency of all procedures related to the implementation of measures and application of positive administrative silence to reduce deadlines.
6. Adaptation of urban planning:The measures adopted prevail over any contrary autonomous regulation without the need for prior modifications to urban planning.
This summary, prepared by Canarinvest Properties, aims to provide our clients and readers with a clear view of the recent legislative measures in the area of residential construciton in the Canary Islands. Our commitment is to keep you up to date with news that may affect our sector, particularly in Maspalomas and the surrounding areas, to help you make the right decisions in your investments and real estate management.
