Oh dear, once again homeowners and construction companies are facing strict restrictions. Some of them do have good intentions, such as preserving the city's appearance, but others seem to deliberately put obstacles in the way of investors looking to make some money. Let's not jump to conclusions and complain about unfair regulations. Let's find out what's happening abroad to understand whether it's worth investing in a particular country right now or better to wait for more favorable times.
Size matters
Construction of the Tour Montparnasse was completed in 1977, but this skyscraper still does not give peace to the authorities of Paris. The 60-story building, 210 meters high, contains a large number of offices, cafes, and souvenir shops within its walls, and on its top floor there is an observation deck with views of almost the entire city. It would seem that such a multifunctional project should have pleased the French and tourists, but it turned out quite the opposite. The monolithic tower does not shine with design solutions, and those that are implemented in it leave much to be desired. For example, the windows - they "earned" individual office spaces located along the perimeter, many offices remained closed off in "boxes" with four walls.
Just like Guy de Maupassant once criticized the Eiffel Tower, saying that the best view of Paris is from its top, where the tower itself is not visible, many Parisians feel the same way about the Tour Montparnasse. According to an open survey, it even ranked second in the list of the world's ugliest buildings.
The example of Tour Montparnasse should have been enough for developers to stop interfering with the harmonious architectural style of Paris by deliberately building tall buildings, but the year 2021 showed that construction companies do not learn from their mistakes. It was then that the foundation of Tour Triangle - a tower designed by a Swiss design studio - began to be laid. Herzog & de Meuron - the projected completion of the work is set for 2026. Disputes over construction permits began 12 years before that. Parisians are no longer willing to tolerate modern buildings on their land that only spoil the city's skyline. In connection with this, the authorities reinstated a law that came into effect after the construction of the Tour Montparnasse. The new urban plan introduced the following rules:
- The maximum height of the building should not exceed 37 meters (approximately 12 floors).
- Construction of high-rise business and office centers, as well as multi-storey residential buildings exceeding the specified parameters, is strictly prohibited.
Limited number of floors, as well as building area (after all, Paris is not made of rubber), can eventually lead to a problem of housing shortage, but the authorities are not yet ready to sacrifice the uniqueness of their city for the sake of creating additional jobs and apartments.
How to Get Rid of a Neighbor in Spanish
Short-term rental in many countries, it remains a controversial topic. On one hand, it allows citizens to earn income and even contribute a portion of their earnings to the state treasury. But, on the other hand, it significantly impacts the real estate market and provokes changes that make it increasingly difficult to find affordable housing. Popular tourist regions are a prime example of this.
- The party scene in Ibiza is fully focused on wealthy foreigners, which is why many locals with lower incomes are forced to live in their own cars or tents.
- The Balearic Islands strongly feel the influence seasonality in the summer, locals cannot find a place neither at home nor on a free beach lounger.
- Barcelona, which is visited by thousands of tourists every year, has also faced the problem of unprecedented rise in square meters prices. Due to the inability to move out of their parents' home and start their own family, many young people are considering moving to another city.
Barcelona, deprived of youth, will be left without promising specialists and will turn into a ghost city. In order to prevent decline, local authorities promise to eliminate all tourist apartments by November 2028.
Short-term rentals dictate their own rules, which contradict long-term rentals, causing housing prices to rise every day. Isabel Rodriguez comments on the current situation:
"In the short-term rental market, there should be no abuses, instead it should protect and ensure the safety of those in need of this type of housing."
In order to somehow stabilize the market, Spain announced new rules of short-term rental. From now on, in order to rent out housing to tourists through platforms like Airbnb, the owner must obtain permission from at least 60% of all tenants in a multi-apartment building. It is now better not to quarrel with neighbors because they can veto your business. This way, locals will have more control over the market and be able to influence it. The government is also not going to stand aside, and additional rules will be developed soon to prevent abuse of real estate.
Arbitrary actions in the emirates
In the UAE, it is not the developers or owners who may suffer, but the tenants. Lately, owners have started to blatantly exceed the limits of what is allowed. You can ask resident:
- pay for plumbing repairs, pipe repairs, locks, and other things;
- take on the expenses for housing maintenance;
- leave early.
Where did such audacity come from? The thing is that in the UAE prices are constantly rising, and the amounts specified in rental agreements are fixed when signed and cannot be changed until the specified term expires. Apartment and homeowners are biting their elbows over every lost dollar, so they try to somehow compensate for the loss. If the tenant cannot pay for repairs, this will be sufficient reason for terminating the contract and renting out the property to new tenants at a new price.
The same rising prices may prompt the owner to evict tenants altogether in order to quickly sell the property. If the owner or their relatives are renting property in Dubai themselves, they may ask you to vacate the premises so they can move in and save on rent. According to UAE laws, notice of early termination of the contract must be given 12 months in advance, and the property can only be re-listed after 2 years. Many owners disregard the rules and act arbitrarily. To avoid this, carefully read the contract and do not hesitate to consult with lawyers.