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The real estate trusts in the legal stability of Madrid for its takeoff

Date: March 1, 2024 Time: 23:53:46

Homelessness in Spain is one of the issues that marks the current political agenda and that of the next regional and municipal governments that will be elected in the elections on Sunday, May 28. In recent years, various CCAAs have launched urban projects that seek to support the production of supply in the market and provide greater possibilities for access to housing. This May 24, the twenty-fourth version of the SIMA (Madrid Real Estate Show) has begun, which will feature a wide range of housing that will exceed 15,000 properties, of which approximately 50% will be in the capital.

In this event, different actors have presented their visions of the sector and although the vast majority emphasize that there are large projects in the country, there are those who say that there are areas that have fewer urban plans because legal stability for investors has not been guaranteed, showing an environment Less friendly for creating floors. Now the agents of the sector are confident that in the coming years this will be a priority to get more real estate projects off the ground. In this sense, the experts in the ‘brick’ sector highlight that Madrid has managed to stand out and lead other communities in urban proximity by delivering this certainty to developers and investors.

“In Madrid there is legal security, it is easier for those who put money in, and it is easier to get a license. So you are helping businesses work and it is a reality that is felt and palpable ”, the CEO and founder of Inviertis, Rebeca Pérez, comments to La Información. She, although she emphasizes that it is not only necessary to bet on policies “that fill the newspapers and that later are not true.” “Madrid has a more expansive policy,” analyzes the announcer and director of studies at Pisos.com, Ferrán Font. The housing specialist indicates that the community led by Isabel Díaz Ayuso has a tendency to generate more housing and help young people with guarantees, and that others like Catalonia have a more moderate policy: “From here we have to see which one has the greatest success because the mobilization of a lot of housing is positive but it is not only necessary to announce it, but to do it and specify it ”, he says.

Madrid, for example, has more than four large urban plans in progress that have been announced for several years. Los Berrocales, Madrid Nuevo Norte, Valdecarros, Los Ahijones, among others. In the southeast alone, more than 150,000 homes will be built and an investment of more than 22,000 million will be closed. In Barcelona, ​​the La Maquinista project is currently underway, which was delayed for eight years and will have 41,500 m2 of free housing and 23,500 m2 will be for subsidized housing; that is, 36% of the project is destined to VPO homes. In Valencia, the PAI plan for Benimaclet Este (promoted by Metrovacesa) has been unblocked again, which will have 1,300 flats.

In Catalonia, “they are working on a city project where urban planning is not paramount because it makes a lot of sense for a citizen, but not for the general public”, points out the executive director of Inviertis and adds that in these real estate policies “some play to win and others just to try.” Font also explains that the situation in Barcelona is “complicated” by legislative changes: “The promoter is not well regarded. But that does not mean that it works badly, so far the city is doing well in transactions, especially second-hand, and the falls seem more moderate, ”she comments.

“The Law is made to appear in the newspaper… Now we are going to have to see its application” – CEO and founder of Inviertis, Rebeca Pérez

According to Pisos.com there are still uncertainties to see which of the two bets has the best result. In particular, he says that those CCAAs that implement coercive measures and those that see the developer or investor as “someone to fight against” are on the wrong path: “From this point of view, they have less progress and help less to improve housing and access to rent”, Font ditch. To solve the root problem, both professionals agree that more housing must be generated, generate short-term impacts and streamline the bidding processes and administrative plans.

Implementation of the Housing Law

The new Law for the Right to Housing and the different government announcements on housing have generated a series of criticisms from the sector. Not only because of the definition of stressed areas, the ceiling on rents or the guarantees of the ICO, but also because the implementation of this regulation has raised doubts. The autonomous communities have the last word regarding the definition of the application of some important points and the problem, according to the CEO and founder of Inviertis, is that for this type of urban projects they will always end up in Communities with Town Halls.

“The Law is made to appear in the newspaper… Now we are going to have to see its application,” says Pérez. The founder says that there are geographical segments of Spain and Catalonia that have already been regulated, leading to a brick crisis. “What it will do is promote those areas where its regional application is lax because the competition is in its hands. There are many CCAAs that are going to determine if they are really going to have an impact on investor activity or not,” he resolves.

For his part, Font denounces that this regulation will have little implementation and will be very heterogeneous. “That is something temporary and I hope that after the elections (of 28-M) it will normalize. The risk that depends so much on politics is that each change of government we will face a new Housing Law because it would be very negative” . In addition, he calls for this situation to be managed with a set of tools that will allow accessibility to housing to improve because “the problem is the imbalance that exists in supply and demand with regard to rental issues,” he concludes.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.
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