Overview

The Bill introducing the long-awaited Sociedades Cotizadas de Inversion en el Mercado Inmobiliario (SOCIMIs) in Spain - similar to the UK's Real Estate Investment Trust (REITs) - was finally passed on 26 October 2009 after a complete change in circumstances resulting from the real estate crisis.

Although the Spanish Government has been heavily criticised for not introducing REITs when the real estate market was at its peak, some experts conside that the introduction of SOCIMIs could be the appropriate incentive to restart the Spanish market.

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