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In addition, the CCO of Savills Aguirre Newman, Susana Rodríguez, has stressed the need to design rental housing in Spain, a product that in many cases is already "obsolete", with an average age of 20 years, and that is not adapted to the needs of the demand.

Likewise, the partner of the Tax Law department of the legal services firm Garrigues, José Ignacio Guerra, alluded to the BTR projects and pointed out that the recent tax changes will affect the projects pending delivery and those that have just been delivered, for which he has requested "a more stable legal and fiscal framework" that does not affect the investment made.

Specifically, he has emphasized the impact of indirect taxation on housing rental activity, and has commented on the different parameters that will determine whether investors will be able to recover the fees supported on the investment or whether they will become a cost to be added to the profitability of the project. The legislation contemplates that the rental of houses and the garages and annexes that are rented together with the houses will be exempt from VAT, while the rental of tourist homes with lodging services or the rental of homes to companies will generally be taxed by VAT. VAT (at the rate of 10% or 21%, respectively) or 4% in the case of purchases made by companies that belong to special regimes, such as EDAV or SOCIMI.

For her part, Mª Ángeles Pérez Ayala, a partner in the Garrigues Tax Law Department, discussed aspects related to local taxation with respect to the reference value of real estate for tax purposes, the changes and challenges introduced by the new regulation of the municipal capital gain and the surcharge on the Property Tax on unoccupied dwellings.