Today, the Official Gazette of the Balearic Islands (BOIB) published the urban amnesty decree law. This new regulation will allow for the legalisation, for a maximum period of 3 years of certain buildings, constructions, installations, or other existing uses on rural land throughout the Balearic territory.
What are the requirements? These may be subject to changes and will be updated as we know more.
What is the procedure?
If the application is submitted in the first year, the contribution will be 10%; if submitted in the second year, it will be 12.5%; and if submitted in the third year, it will be 15%. The financial contribution is reduced for applicants with low incomes, with discounts of 50% or 25% depending on the level of income. These percentages are applied to the cost of the (building) execution.
The local council will have six months to resolve and notify. If no notification is given within this period, the application will be considered rejected.
Important implications: legalised homes cannot be used for holiday rentals, and this prohibition must be recorded in the Land Registry.
If you own rural property in the Balearic Islands, now is the perfect time to sell. This new urban amnesty decree law could increase your property's value. Ready to sell? Contact our expert estate agents today to list your property!
For more information on the legalisation process, contact your local council.