Paris Declares War on Empty Homes: Could Spain Be Next?
19 Articles
19 Articles
The town council will increase the charges from 2027 to urge the owners to incorporate about 20,000 properties into the market.
The Paris Council approved, on Friday 17 July, the doubling of the tax on vacant housing. The capital has 150,000, or 9% of all its housing units. The town hall hopes to put 20,000 of them back on the real estate market.
The decision was made by the city council and the measure will come into effect in 2027.
The city hall on the left of the capital, which lists 150,000 vacant dwellings, will raise the tax rates to 30 per cent after one year of vacancy, and 60 per cent after two, a new measure permitted by law.
The town hall hopes to "remove the rental market", while the capital has 150,000 vacant dwellings.
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