Spanish government in property move

The Spanish government has unveiled new policies aimed at reviving the country's property market.

Speaking in parliament, prime minister Jose Luis Rodriguez Zapatero announced that developers renting out their properties would get tax breaks and a share of a EUR3 billion (GBP2.38 billion) credit line.

He stated: "These are concrete moves to make the property sector more competitive at the same time as we encourage the rental market and provide liquidity to companies with big stocks of property assets."

Another development that may help part of the Spanish property industry is a reported increase in tourist numbers to the Costa Blanca this summer.

Regional tourism minister Angelica Such told the Costa Blanca News that numbers had risen by four per cent on 2007, Homes Worldwide reports.

Contributory elements to this included a 1.2 per cent increase in British visitors and a seven per cent increase in passengers flying into Alicante Airport.

Such a trend may bolster the buy-to-let rental sector in the area.