Ten proposals to avoid another Spanish property bubble

5 Nov 2015

With a general election looming, the General Council of Real Estate Agents of Spain (COAPI) has published a list of ten measures they claim will avoid another devastating bubble inflating in the Spanish property market.


As a professional association, the COAPI have an interest in legislation that favours their interests, and some of their proposals look a smidgen self serving. Unsurprisingly, they call for membership of a professional body like COAPI to be mandatory of anyone working in property sales.

Their proposals to avoid another bubble in Spain are as follows:

1. Greater transparency for consumers. They call for regulations to ensure correct property particulars and accurate descriptions to help inform house-hunters.

2. Financial transparency. The mortgage market should be more transparent and better regulated to avoid the reckless lending that fueled the last bubble.

3. Mortgage valuations. They call for appraisal companies to be made independent of lenders ensuring more accurate valuations for mortgage lending purposes.

4. Register of property professionals. Companies and individuals operating in the property sector should meet certain requirements such as having professional indemnity insurance and professional training, with obligatory registration in a professional register.

5. Party manifestos on housing. They call on all political parties clarify their housing policies in the run up to the election.

6. Special protection. The housing market should be declared a market of public interest, subject to special protection and vigilance.

7. Asymmetric information. Regulation should be introduced to reduce the asymmetry of information that harms consumers.

8. Fiscal coherence. Progressive taxes should support the social function of housing.

9. Professional bodies. Professional associations should be regulated to protect consumers, including codes of conducts and a system of penalties.

10. Official certification. Professional accreditation should be required of everyone operating in the sector to ensure minimum professional standards.


Properties

© 2019 Vincent Real Estate · Design: Mediaelx · Legal · Privacy · Cookies · Web Map · Sold Properties

×

Subscribe to our newsletter

Want to receive our latest listings & special offers?

Responsable del tratamiento: Vincent Properties Group S.L., Finalidad del tratamiento: Gestión y control de los servicios ofrecidos a través de la página Web de Servicios inmobiliarios, Envío de información a traves de newsletter y otros, Legitimación: Por consentimiento, Destinatarios: No se cederan los datos, salvo para elaborar contabilidad, Derechos de las personas interesadas: Acceder, rectificar y suprimir los datos, solicitar la portabilidad de los mismos, oponerse altratamiento y solicitar la limitación de éste, Procedencia de los datos: El Propio interesado, Información Adicional: Puede consultarse la información adicional y detallada sobre protección de datos Aquí.
×

Book a viewing trip

Planning a trip to Spain?
Wish to book a property viewing.


Responsable del tratamiento: Vincent Properties Group S.L., Finalidad del tratamiento: Gestión y control de los servicios ofrecidos a través de la página Web de Servicios inmobiliarios, Envío de información a traves de newsletter y otros, Legitimación: Por consentimiento, Destinatarios: No se cederan los datos, salvo para elaborar contabilidad, Derechos de las personas interesadas: Acceder, rectificar y suprimir los datos, solicitar la portabilidad de los mismos, oponerse altratamiento y solicitar la limitación de éste, Procedencia de los datos: El Propio interesado, Información Adicional: Puede consultarse la información adicional y detallada sobre protección de datos Aquí.
×