New Fiscal Incentive for Renting Vacant Properties in Cantabria

Starting January 1, 2025, the Government of Cantabria is introducing a new fiscal deduction aimed at encouraging the rental of vacant properties in the region. This initiative is part of a broader effort to address housing shortages and stimulate the local real estate market.

Eligibility Criteria

The new deduction will apply to properties that have been vacant for at least a year and have a rental price exceeding €1,000 per month. This criterion is designed to target higher-value properties that have been unoccupied for an extended period, thereby incentivizing their owners to put them back into the rental market.

Benefits for Property Owners

Property owners who meet the eligibility criteria will be able to claim a significant fiscal deduction on their taxes. This financial incentive is intended to offset some of the costs associated with preparing and maintaining these properties for rental, making it more economically viable for owners to rent them out.

Impact on the Housing Market

The introduction of this deduction is expected to have a positive impact on Cantabria's housing market. By encouraging the rental of vacant properties, the government aims to increase the availability of housing options for residents and newcomers alike. This could be particularly beneficial for expats and other individuals looking for quality housing in the region.

Broader Context

Cantabria, a region in northern Spain known for its natural beauty and rich cultural heritage, has been facing challenges related to housing availability. This new policy aligns with broader national and regional efforts to address housing issues and make housing more accessible and affordable.

Implementation and Next Steps

The new fiscal deduction will come into effect on January 1, 2025. Property owners interested in taking advantage of this incentive should ensure their properties meet the specified criteria and be prepared to provide the necessary documentation to claim the deduction. Further details on the implementation process and any additional requirements are expected to be announced by the Cantabrian government in the coming weeks.

This initiative is seen as a welcome move by many, as it not only helps to revitalize the local real estate market but also provides more housing options for those looking to live in Cantabria.