“We know it is happening but we have tools and controls to stop it and make it a less common practice”, says the general director of Housing, Eduardo Robsy, in relation to the sale and purchase of social housing apartments (VPO) with prices that exceed the permitted limit and that are sometimes partially paid for ‘under the table’. The warning about this fact had been given recently by another department of the Govern, the General Direction of Consumption, after receiving a complaint from a citizen of the islands, as Diario de Mallorca reported last Monday.
The general director recognizes that at the moment “the Balearic housing market is overheated”, in the sense that there is high demand and prices are constantly rising, which explains that some owners of protected apartments are tempted to sell them for a value that exceeds the authorized value.
Housing inspectors are posing as buyers to hunt down those setting illegal prices
In relation to this point, remember that in order to sell a used VPO the owner must go to the aforementioned General Directorate and ask for the maximum price certificate. It is necessary to remember that at the moment the limit is 1,940 euros per useful square meter, and that these properties have a maximum surface area of 90 square meters, which in the best of the cases would put the legal limit below 175,000 euros. This certificate is also necessary when going to the notary for the purchase. In addition, the Balearic Housing Institute (Ibavi) must be informed of the intention to sell the property, so that this body can communicate whether it wishes to exercise the right of first refusal (to keep the property by paying this limit value). For the full article, please visit Diario de Ibiza website here.
