14.03.2007

The Spanish Housing Minister, Maria Antonia Trujillo, yesterday announced that Spain's new public property rental agency is ready for business with 1,500 properties to rent which will be available for rental as from October. 1,200 properties have been registered with the agency by private owners, and the rest are flats and apartments in state-owned buildings. Trujillo said that several Spanish ministries owned buildings which would be converted into flats and registered for private rental with the state agency. The minister said the agency would use this month to make any last-minute improvements and reforms to the properties on the new register, and to negotiate the rent with owners. She said the rent fixed by the agency would be just below market rates. In October a campaign will get underway to promote the properties and attract tenants.
When the government announced the creation of this new property rental agency in Spain a few months ago, its objective was to rent 1,000 properties during the first year, and 25,000 by the end of the legislature in an attempt to encourage and professionalise the property rental market in Spain.

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