The Government has insisted that it is considering raising the ceiling of the transfer tax rebate (ITP) before the end of the year, depending on the results of the first indicators of the Balearic Islands Housing Observatory, expected for the fourth quarter.
This was explained this Wednesday at a press conference by the Minister of Economy, Finance and Innovation, Antoni Costa, who admitted that the current rebate, which is applied according to the age of the buyers and for homes up to about 270,000 euros, is insufficient in certain municipalities of the archipelago. “We are willing to increase the limit, but it is necessary that we identify the most affected municipalities to know if we have to raise it more or less”, has indicated the also vice-president of the autonomic Executive. The bonus, which is 100% for people under 35 years old, could be applied to homes up to about 350,000 euros -40% more- in the towns most affected by the housing crisis in the Islands, such as Ibiza, Palma or Calvià. “We will do it progressively and we will do it in 2025”, has committed the conseller. However, he has stressed the need to wait until having the information regarding the first 20 indicators of the Housing Observatory, which is expected to be published in the last quarter of this year, to be able to make a decision according to the real needs of each municipality. “The regulation by which the increase will be developed we are going to prepare it so that, when we have the data, we can approve it as immediately as possible. This 2025 we will be able to make the decisions and progressively increase this amount in the areas or municipalities that obviously need it,” he insisted.
Housing master plan
Asked about other policies that the Govern could carry out in the field of housing before the end of the year, the general director of Housing and Architecture, José Francisco Reynés, said that they expect to be able to launch the drafting of the sectoral master plan. For this, he explained, they will also wait for the first data from the Observatory so that the text can be adapted as accurately as possible to the situation of the archipelago. The master plan, which comes marked by the law of housing, will be the framework that regulates all the general plans in the matter of urbanism of the different town halls of the Balearic Islands, which will have to be adapted to him.
