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Podemos proposes to tax the "speculation" of the 'real estate flipping', buy and sell apartments in less than 2 years

The new tax would reach 20% of the total value of the operation and will be used to increase the public housing stock.

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Podemos proposes to tax the "speculation" of the 'real estate flipping', buy and sell apartments in less than 2 years

The new tax would reach 20% of the total value of the operation and will be used to increase the public housing stock

Podemos proposes to levy a new tax of 20% of the total purchase price on housing sales operations that take place before two years have passed since their acquisition and a clear "speculatory" purpose is detected.

This is one of the measures, according to sources from the purple formation, which will include Podemos in its framework program for the municipal and regional elections on May 28, whose main lines will be exposed in an act scheduled for this Saturday.

In this way, this practice known as real estate 'flipping' (buying to resell in a short period of time with a view to achieving quick profits) is of a "clearly speculative" nature for Podemos and seeks "economic benefits in the very short term", trying to housing not as a basic necessity but as another financial asset.

Therefore, the purples specify that their proposal for a new tax would not apply if there are causes of force majeure to execute the sale or in justified situations, such as a change of address or moving to another autonomous community for work reasons.

The idea of ​​Podemos is, on the one hand, to discourage this practice by imposing the new tax and, on the other hand, to increase the collection of public administrations when the 'flipping' occurs, thus obtaining more resources to increase the public park of social housing.

"If someone wants to speculate, do it with diamonds or with shares of technology companies, but not with housing. Houses are for living, not for speculating and cashing in," says the secretary of the Podemos Program, Pablo Echenique.

In statements sent to the media, he stressed that "it is already good" that in Spain there are "millions of young people and working families who have problems accessing housing, while others play 'Monopoly' with a basic good destined to cover a human right".

HOUSING, ONE OF ITS FLAGS FOR THE 28M

Precisely the housing plot is one of the formation's strongest bets both for the current legislature and for the 28M elections, by claiming its push to approve the new state housing law. In fact, one of his pre-campaign messages is that his candidates are a guarantee of the effective application of this regulation in the different territories.

In this sense, the candidate of Podemos, IU and Alianza Verde for the Presidency of the Community of Madrid, Alejandra Jacinto, has proposed the creation of a Madrid public real estate agency to guarantee the right to housing.

In the Balearic Islands, he has also proposed changing the regional housing law to increase the temporary expropriation of use by large holders from seven to 20.