The president of the Community of Madrid, Isabel Díaz Ayuso, has specified that the tax deduction for people who have been living abroad for five years or more, which will come into force in 2024, will apply to those who buy a primary home.
"What we want to do with these measures is to stop the attack on the investment that the Government is constantly making in the Community of Madrid," the Madrid leader defended yesterday at the press conference after the last Government Council of the year.
20% of the total investment made in financial assets may be deducted from the regional tax rate, provided, in addition, that it is maintained for the following six years.
Ayuso explained that it will be intended for those people who have been residing abroad for five years or more or who come to Madrid for the first time to live. The goal is for them to take "their jobs and their families" with them because they want to "attract life," "attract people" and also "jobs."
"That's why what we also want is that when it comes to buying a home they live in it. We don't want the home to simply be a way to buy them but then not leave investments in Madrid nor attract those lives because the only thing it does is make it more expensive. housing, especially for the Madrid middle class, and makes the market much more difficult and distorts it," he said.
Ayuso has stressed that they are "open to all investment" and that anyone who wants to go to the region will be "another Madrid resident from day one" but has defended that they also need to establish their residence in the Community or at least pass enough seasons so that "it can move the economy."
