Spain to more than halve subsidy for firms specialised in letting property

MADRID - Spain's government will slash the fiscal subsidy it provides to companies specialised in renting out properties to 40% in 2022, more than halving the current rate of 85%, Budget Minister Maria Jesus Montero said on Wednesday.

The leftist coalition government agreed on a draft housing law which targets the lack of accesible real estate earlier this month, defining "big landlords" as any entity owning 10 or more properties and moving to cap rental prices in high-demand zones.