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Spanish 'separation' to impact on property?
There are fears that Spain will be ‘broken up’ under new proposals approved by the government which allow the north-eastern Catalan region more autonomy.
A vote undertaken in the Catalan region resulted in a resounding victory for the "Yes" campaign in favour of autonomy for the wealthy region, which won 73.9 per cent support, but the turnout of 49 per cent was much lower than many anticipated.
Prime Minister Jose Luis Rodriguez Zapatero has divided his own Socialist party and infuriated Conservatives who think this will cause a fracturing of the regions and a weakening of the country. The region encompasses the Barcelona province, the Tarragona province, Lérida, the Pyrénées and Costa Brava, a popular British tourist destination. Catalonian political parties have pushed for autonomy since they were given a limited amount of autonomy following Franco's death in 1978. The Catalonian people already have a distinct language, but under new proposals the region would be given the status of a separate nation and control of its own taxation, as well as being able to change laws passed by parliament.
It is still too early to tell what effect the move will have on property prices in the area, which rank among some of the highest in Spain due to the desirability of properties in areas like Barcelona and Girona. Average property prices rose by four per cent in the first quarter of 2006, according to Spanish Property Insight, and have gone up by 11 per cent over the past year.
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For further information:
Spanish Property Insight
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Property prices and polo hit Spanish news
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Article first published on 29 June 2006


