Non-voting shares: when voting rights are restored (Supreme Court Ruling 440/2026)
Executive summary Supreme Court ruling STS 440/2026 (20 March 2026) establishes, for the first time, a clear criterion for a very common issue in private
Its main objective is to provide the Autonomous Communities and City Councils with the most homogeneous regulation possible to promote an affordable housing market for the entire population.
This is the first law that legislates, and therefore regulates, the right to decent housing in our country.
Among the novelties we can highlight
• Modification of the concept o f large real estate holder, which is decreased from 10 properties to 5.
• As from 2024 the maximum indicator for updating the rent will not be the IPC but a fixed rate of 3%.
• Real estate expenses become the obligation of the lessor.
• Extension of the declaration of stressed areas and regulation of the price of rents in these areas.
• More taxes for empty houses.
• In return, there will be income tax credits for small holders in stressed areas, ranging from 50% to 90%.
• Tax advantages for those renting at reduced prices
• Urban land is made available to municipal and regional governments for the construction of social housing.
In addition, through this new Law, the percentage of land destined for subsidiz ed housing (VPO) is increased. At present, 30% of the developable land is destined for this type of housing, which is now 40%, while the unconsolidated urban land is increased from 10% to 20%.
With respect to stressed areas, these are areas where the price of rent has increased significantly over th e rest of the territory. In order to be considered a s it , and therefore, to regulate the price of rent, one of these conditions must be met: (i) the price of rents must have increased by more than 3% of the IPC value of the last 5 years or (ii) the average price of housing must represent at least 30% of the average income of the area
The law has been submitted to the Senate and will enter into force once it is published in the BOE.
Executive summary Supreme Court ruling STS 440/2026 (20 March 2026) establishes, for the first time, a clear criterion for a very common issue in private
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