Government to Prevent Funds From Buying Flats Below 30 per Cent of Their Value

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The decree does not prohibit investment funds from acquiring flats for the mere fact of being so, but vetoes until 2028 certain purchases made below 70% of the value of valuation.

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The Congress will vote on Friday two decrees: one with the extension of rents, the prohibition of purchase from investment funds, tax aid or the moratorium on evictions; and the other with automatic and indefinite renewal. Read

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Factuality

Ownership

The government will not prohibit so-called "vulture funds" from buying homes on a generalized basis. The text of the royal decree-law passed on Tuesday in the Council of Ministers to which the periodic has acceded allows funds, companies and other entities dedicated to buying real estate to continue buying flats provided that they pay at least 70% of their market value.