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[BUSINESS] · Spain · 21 sources

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Valencia and Gandia announce major housing and budget initiatives

The Valencia City Council is set to approve its largest budget to date for 2027, totaling 1,580.35 million euros. This represents an 11.7% increase over the current year, with a significant focus on increasing the municipal housing budget from approximately 5 million to over 39 million euros to promote affordable rental options.

In Gandia, the Generalitat is driving the development of 244 protected housing units through various projects, including a 67-unit building in the Santa Anna neighborhood. These initiatives, supported by European Next Generation EU funds and regional resources, aim to expand the public housing stock and facilitate access to the residential market.

Other regional municipal updates include:

- Ibiza is preparing a record 4.2 million euro fine for illegal tourist rentals, targeting properties used for accommodation without proper urban authorization.

- Tarragona is proposing a tax surcharge of up to 150% on the Property Tax (IBI) for homes used as tourist apartments to incentivize their return to the long-term residential market.

- Reus has outlined a 22.2 million euro investment plan for 2027, which includes 2.3 million euros for affordable housing projects.

Entities

Generalitat Valenciana · Ibiza · Ibiza City Council · Isabel Mascaró · Reus · Reus City Council · Spain · Tarragona · Tarragona City Council · Tomelloso · Valencia City Council · Vilafranca del Penedès

Claims

What the coverage asserts, and how many sources carry each claim.

  • [● 2 SOURCES] Tarragona City Council will hold a plenary session on Monday, October 26, to vote on tax modifications. www.tarragonaradio.cat
  • [● 2 SOURCES] The proposed IBI surcharge for tourist apartments can reach up to 150% of the liquid quota. www.tarragonaradio.cat
  • [● 2 SOURCES] The measure is intended to encourage tourist apartments to join the regular residential rental market. www.tarragonaradio.cat
  • [● 2 SOURCES] The city has already approved IBI bonuses for protected housing. www.tarragonaradio.cat
  • [● 2 SOURCES] A 95% reduction in the ICIO tax is being considered for protected housing promotions. www.tarragonaradio.cat
  • [● 2 SOURCES] The city is studying measures regarding the tax on the increase in value of urban land to prevent speculation. www.tarragonaradio.cat

Sources