The Government will take advantage of the processing of the organic law on efficiency measures in justice and consumer protection to introduce, via amendment, the suppression of the ‘Golden Visa’ for non-resident foreigners in the European Union who invest more than 500.000 euro in housing, a measure that began in 2013 during the PP Government.
In this sense, the elimination of these visas is included both in the business field and in so-called business investments, that is, those aimed at bank deposits, public debt, shares, investment funds and business projects of general interest.
It also introduces another modification to this text so that the communities of owners have the ability to decide whether to allow or veto the establishment of tourist apartments in their block of buildings.
The two amendments to the bill on judicial efficiency and consumer protection are promoted by the PSOE, which intends to accelerate the implementation of these two measures on housing.
The amendment to end the ‘golden visas’ alludes to the fact that this measure, deployed at the time to retain investments, has not had a significant impact on its initial objective and Its elimination “will not cause negative effects” for the economy, since the dynamics of the EU is to toughen these types of measures.
Regarding tourist apartments, the addition presented by the socialists establishes that each owner who intends to dedicate their home to this activity must previously have the express approval of the community of owners. The president of the community may also urge the cessation of tourist use of a home that does not have said permit.
The PSOE justifies its amendment by pointing out that the increase in tourist apartments has generated undesirable effects, such as inconvenience to the neighbours where these establishments are located, the reduction of housing for residential rental or the increase in rental prices for habitual residence, as well as the “progressive gentrification of many neighbourhoods”. Therefore, neighbours are given the power to decide, as directly affected, whether or not to approve this activity.
