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Non-Tech : Investing in Real Estate - Creative Opportunities

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From: Sr K	1/3/2015 12:43:41 PM
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In 1995 Spain legislators enacted law to lift commercial rents to market rates, effective 1/1/2015. miamiherald.com 12/31/2014 . Asi is soon to close its doors for the last time because Jan.1 will mark the end of an era in Spain — the abolition of rent controls that helped small businesses and preserved the historical identity of city centers by insulating them from property market pressures. The date was stipulated in a law passed 20 years ago that limited annual rent hikes to the same percentage value as the official inflation rate. About 200,000 mostly family-owned stores, bars and restaurants are affected by the law change that allows their landlords to raise rents to whatever they want. An estimated 55,000 businesses are expected to close down over the coming weeks and months, wiping out around 120,000 jobs in a country which already has a 24 percent unemployment rate, labor groups say. Read more here: miamiherald.com

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