The real estate stock of the Valencian Community, specifically in the province of Alicante, is getting old and according to current legislation it will be necessary to urgently undertake rehabilitation actions in a large number of buildings and homes in the coming months and years.
In the Valencian Community, 46% of the houses are built before 1980, so they do not have elements of protection and thermal insulation. The housing stock of more than 50 years in our Community represents 26%, 662,000 homes, which means a significant potential demand for rehabilitation. For its part, in the province of Alicante there are nearly 90,000 buildings built before 1960, in which the state of conservation of 22,500 is considered deficient. For the College of Architects, around 45,000 buildings would be likely to undergo rehabilitation.
According to a report by the Cosellería de Infraestructuras, in the next 2 years it would be necessary to modernize some 32,000 homes, which could generate an investment of 250 million euros.
New Territory Planning Law. The developer agent.
At the end of July, the regional executive approved the Territory Planning Law , in which it is tried to promote the Public-private collaboration as a key factor to stimulate rehabilitation and regeneration processes. And in this area the figure of the urban development agent reappears, who will be authorized to rehabilitate degraded urban areas, blocks of flats and facades whose owners do not agree to act on them. The Valencian government wants to promote this market niche that is estimated to generate a movement of up to 12,000 million euros in the next 10 years.
Technicians estimate that the average cost of renovating a home will reach 10,400 euros per floor, with the main reforms being kitchens and bathrooms, which will account for 73% of the total.
Tax advantages and aid for rehabilitation.
Likewise, both the central and regional governments have promoted a package of measures aimed at aiding rehabilitation. These aids will come in the form of direct subsidies and tax deductions in personal income tax for those owners who undertake rehabilitation and reform works in their homes, either inside the building, or in the structure and façade itself.
All this aimed at preventing an aging problem in the Valencian real estate stock, which must be solved gradually and progressively.
