The initiative, announced on Tuesday, focuses on three core pillars. Firstly, it seeks to increase the IBI based on the cadastral value of the property, with a particular emphasis on the top 10% of the most expensive properties. Secondly, it proposes an increase for owners who possess more than five homes in the same city. Finally, it suggests a tax hike for investment funds, corporations, and companies that own real estate.
“"The objective is clear: to burst the real estate bubble, to curb the profitability of housing as an asset, to return housing to its rightful place as a fundamental right, and to work so that the majority in this city live better."
According to the party, these measures aim to apply the “basic principle of fiscal justice,” where “those who have more, pay more.” The proposal seeks to prevent the “hoarding” of housing, arguing that owning more than four properties in the same city indicates a purpose of speculation rather than residence. It is estimated that the implementation of these measures could generate an additional 100 million euros, which would be allocated to essential public services.
The third line of action targets investment funds and companies that pay taxes on their homes through “interposed companies,” seeking to eliminate the “fiction” that companies are the owners of homes when they are actually individuals. This proposal will also be presented as a motion in regional city councils to prompt political parties to take a stance on supporting working families versus speculators.
