In light of the Valencia Land Grab Law is the Valencia Region worth investing in?Many have invested in previous years and have seen terrific returns on their money. For example a property bought 4 years ago has grown in value by some 300%. However in light of the recent coverage of LRAU – Valencia’s land grab law – is Valencia a safe place to buy?What is LRAU?LRAU is a law ratified in 1994 to release land for development for social good. Initially the Law was drafted with good intentions. One of the fundamental powers it bestows is expropriation – compulsory purchase, of the property and it is this area where much of the abuse occurs.LRAU ONLY applies Rustic Land (Suelo Rustico). If you live on urbano land you will not be affected.Development in Valencia and the role LRAU plays.The Valencian economy has thrived on Agriculture, textiles, ceramics, fishing and shipping. However, recent years have seen a dramatic reliance on tourism and construction. Fuelled primarily by foreigners seeking a “cheap” place in the Sun, a development boom has taken place to the detriment of these industries.The textiles industry is facing stiff competition from cheap Chinese imports – witness recent reports of… Read full this story
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Do You REALLY Own Your Spanish Property? Or Are You Merely a Tenant in Waiting? PT 1 have 304 words, post on ezinearticles.com at October 4, 2005. This is cached page on Drudgereport. If you want remove this page, please contact us.