Ya no hay desgravaciones por vivienda. Pero ¿puede haber política impositiva dirigida a la vivienda?

© 2017, Instituto de Estudios Fiscales. This paper focuses on the relationship between tax policy and housing policy. To this end, the conse-quences of the distinction between the so-called " savings incentives" (universal policies that do not distinguish between pre-existing and newly produced housing) and" investment incentives" (selective policies specifically addressed to newly produced housing units) are explored. It is argued that the legislation in Spain after the abrogation of tax subsidies to owner-occupied housing gives rise to a negative savings incentive coupled with a negative investment incentive. The effects on housing prices (both new and second-hand) and residential capital of a variety of taxes levied on the transactions of pre-existing and newly produced housing units are also discussed.