Zoning plan may devalue 4 million plots

Zoning plan may devalue 4 million plots

Hundreds of land owners and some market professionals are voicing their opposition to a zoning plan the government plans to submit to Parliament in end-October which will affect more 4 million privately and publicly owned properties.

Under the new legislation, the government is changing a rule from 1928 that provides for off-town planning plots to qualify for construction if they have a minimum surface of 4,000 square meters, without needing to border on a road.

The new regulation, which requires a plot for construction to have at least 45 meters border on a road may devalue all other plots and create linear constructions, critics say.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.