EU to stop reclassification of Rustic land. EU is to stop the Valencian Community in reclassifying any land before the new "LUV" law comes into play.

EU is to stop the Valencian Community in reclassifying any land before the new "LUV" law comes into play.
After giving the Valencian community until the end of this year to change the land law, they have further asked that no land is to be reclassified as urban until the new and much improved law comes into play.
The good news will be welcomed by home owners and buyers as the new law will have to abide by European legislation. If this is not so, the law will be put forward to the European tribunal.
Brussels has been monitoring the progress over the last year and with EU representatives they have attended various technical meetings to check the validity of this new law.
Presently, the European commission is not happy with the transition period before the (LUV) land law comes into play and it has decided that it goes against European legislation. The EC confirms that any proposed project must conform with the required public conditions and be fully transparent for owners to see.Even though this ultimatum has surprised some of the politicians, it is a welcome break for most of the 15.000 property owners who are affected by this barbaric law and it signals a change in the fortunes of property owners and buyers.
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House prices continue rising. Set to carry on increasing over next year.

House prices continue to rise in Valencia and set to further increase
According to a study made by The School of Real estate Agents of Valencia (API), resale property prices have risen once again in the third semester this year. The data has been extracted from a database of more than 4.500 registries in the Valencian community. The study has been compiled from the “real” prices of properties of houses that have actually been sold.
The data points to a rise of 22,84% over the last 12 months. The average price is now around 1.694 €/m2 (constructed). This increase corresponds to a rise of 7%. The Valencian Community is now increasing at an annual rate of roughly 20%.
The surrounding areas of Valencia city have benefited the most with an increase of between 25-30%. North Valencia has enjoyed the biggest jump with a 32.82% increase closely followed by Valencia south with a 30.87 % rise and Valencia East reporting a 26.12% increase.
Burjassot, a town northwest of Valencia reported a growth of almost 33%.
In the city of Valencia the prices have increased by 8% in the last semester
The average price in Valencia city is now 2.307 €/m2 which represents an increase in the last twelve months of 33%. The rise over the last semester is of 8%. Areas around the America's cup have had a quarterly growth of 23.77% which reflect the mood of the city as the sailing teams came and competed in the preliminary acts. As the America's cup intensifies we can foresee the demand increasing and therefore prices continuing to go up, specially considering that house prices are still below the national average.
According to leading property valuers prices are set to increase by at least 10 % next year in the whole of Spain.
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Europe forces Valencia to listen. (The new Valencian Land Law conforms to European standards).

"The new Valencian Land Law conforms to all of the European commission's demands"
The Valencian counsel for Cooperation and Participation, Gema Amor, stated that the new Urban law, which is to be approved by the end of this year conforms with all the recommendations made by the European Commission.
The European Commission previously gave Spain until the end of 2005 to adjust its new laws in order to conform with European legislation. This was to protect not just foreign house and land owners but residents as well.
In a statement to the Senate, the Valencian Counsel confirmed that this new law respects all responsibilities, obligations, rights and needs of the European citizens and those of the Valencian community.

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