ASdTorrevieja Information - tourist guide: Torrevieja to build 116 houses for young adults

Torrevieja to build 116 houses for young adults
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Keith Nicol on 08 March, 2010 11:32:00

Torrevieja’s Town Hall announced that they have been granted approval to build
116 rental dwellings especially for young adults between the ages of 18 to 35.

The housing boom in Spain may have slowed down with houses selling at the prices
they were bought for three or four years ago, but with the reluctance of banks
to lend money, it’s still harder than ever for young people to put that first
foot on the property ladder. Even trying to rent a property can be difficult
with many owners reluctant to lend to those without a good job and references.
Thus better news was on the horizon as Torrevieja’s Town Hall announced that
they have been granted approval to build 116 rental dwellings especially for
young adults between the ages of 18 to 35.
The town hall has allocated four parcels of land for development specifically
for rental properties as part of a 12.5 million euro investment plan,
Construction is imminent and just awaiting permission to be granted at the next
planning meeting. The four parcels will contain 40, 26, 34 and 16 houses
respectively. In much the same vain as the council housing purchase boom that
took place in the UK, renters shall also be offered an option to purchase after
they have been renting for at least one year. Torrevieja’s Mayor Pedro
Hernandez Mateo applauded the decision to invest not just in homes for young
people, but to build on their future within the municipality.
Keith Nicol