Spanish lawyers suggest selling off excess property stock to foreigners: "The Spanish Association of Town Planning Lawyers, AEA, have suggested that the Ministry for Development sells off the stock of completed housing in Spain as holiday homes for foreign buyers.
The AEA considers that would eliminate the ‘obstacle’ to the re-activation of the real estate and construction industries. The considers the current ‘Ley de Suelo’ land legislation is acting as a blockage to recovery because banks are currently not in a position to grant mortgages.
Under the plan the banks would receive liquidity and could increase the amount of credit they offer. The properties would be sold to the foreign market as a one-time offer at a ‘very interesting’ price.
The lawyers also consider that the property could be offered as state ‘special protected’ housing."
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