The PSOE proposes in its electoral program for the general elections of 29 November to allocate each fiscal year 1% of Gross Domestic Product (GDP) to guaranteeing access to housing, which they set as the central priority of the next legislature, as detailed in the document presented this Sunday.
The Socialist Party incorporates a broad package of initiatives in housing matters, including increasing the duration of rental contracts to reinforce the stability of tenants, a key demand of the organizations that drove the latest mobilizations and the encampment at Puerta del Sol in Madrid.
In line with this approach, they announce that they are going to "temporarily freeze" rents that exceed reference indices, with the aim of preventing "abusive increases" in the most stressed market areas.
Likewise, the PSOE promises to strengthen the stock of public and protected housing "to reach the average of the countries in our surroundings". Within this framework, they commit to launching a state public housing stock of 100,000 homes, through new developments and the purchase of properties, in order to increase the supply for sale and rent at affordable prices. This stock will be added to the one they are already promoting through autonomous communities and town councils.
With the aim of prioritizing residential use over tourism, the socialists will allow municipalities that so decide to set a tax on overnight stays in homes used for tourist purposes. In addition, they plan to approve a state framework that will enable city councils to apply "surcharges on tourist stays" to address the effects of tourism pressure and obtain resources to support public services.
NEW TAX ON VULTURE FUNDS
The program also includes the creation of a new levy "against the speculation of vulture funds and large property owners", which will progressively tax the ownership of homes that are not intended for affordable residential rental.
"Homes that are dedicated to tourist purposes, that are empty, or that are put up for rent at an abusive price will be subject to this new tax," the text of the socialists states, with the aim of "stopping speculative accumulation and redirecting it toward affordable renting".
In the same way, the PSOE plans to “maintain and guarantee” restrictions on the purchase of housing by speculative funds and proposes a constitutional reform so that housing becomes a fundamental right —the highest level of protection in the Constitution—, so that citizens can “demand that it be complied with by the public authorities.”
REGISTRY OF FUNDS AND PRICES
Another of the measures is the creation of a specific registry of investment funds and Socimi, with the aim of strengthening traceability and supervision of the “major players” in the real estate market. A registry of rental contract prices will also be added in order to improve transparency and knowledge of the residential market.
The PSOE also sets itself the goal of approving a Law on Sustainability and Land Mobilization to accelerate and simplify urban development procedures, while at the same time it provides for significant budget allocations to boost both the construction and rehabilitation of housing.
In terms of financing, the program provides for mobilizing more than 25,000 million euros through the Instituto de Crédito Oficial (ICO) in the form of guarantees, loans, and lines of financing for affordable housing. In addition, 4,700 million from the Climate Social Plan will be directed to the construction or rehabilitation of sustainable housing, and 400 million per year from the Social Impact Housing Fund will be used to back specific projects.
ANTI-EVICTION PROTECTION
Following the eviction of Maricarmen Abascal, which triggered a strong social response, the PSOE commits to guaranteeing a stable framework of protection against evictions affecting vulnerable people without alternative housing, as well as to putting in place a protection mechanism against eviction that would allow a reaction to residential emergency situations.
Likewise, the socialists consider ensuring that the economic impact derived from the suspension of evictions of vulnerable people does not fall on the small property owner, so that it is the public administrations that assume that cost.