Torrevieja to build 116 houses for young adults

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

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