The Spanish Ministry of Housing disappears

October 21, 2010 at 1:00 pm

…and it is transformed into a Department of State as a part of the governamental reform. We now can say “goodbye and farewell” to the Ministry of Housing because the new Department of State will be integrated into the portfolio of the Ministry of Development. As the real estate bubble burst, it can seem only normal that the Ministry of Housing burst at some time or another.

A large part of the Spanish economic growth was based on real estate. In 2004, the enthusiasm around real estate market was huge, because growth was big and everybody won. Thus, housing and real estate became a priority for the government. But reality is different in 2010 and now it seems that the government has shifted focus from real estate to parts of the economy that can create sustainable growth. But that does not diminish the role of the Housing Department. Its prerogatives will remain, but they will be established by the Ministry of Development.

The main projects issued by the Ministry were: A Land Act, two State Housing Plans or the Public Rental Society.

Source: elmundo.es

Entry filed under: Housing, News, Real estate. Tags: Kinos, ministry of housing, reform, Spanish, spanish government reform, Vivienda, zapatero.