There are some mysteries on the horizon concerning the property market’s future. The new Housing Law is still controversial. Last week the Spanish General Council of the Judiciary warned in an unfavourable report of the inaccuracy and insecurity it may bring to the property sector.
People interested in investing in the property market will be presented with a complicated scenario should said law go forward.
Tecnotramit’s CEO, Vicenç Hernández Reche, warned in his last interview on La Vanguardia’s podcast ‘Bolsillo’ (Pocket) about the dangers and instability this law may result in.
Hernández Reche mentioned: ‘Owners are being demonised, someone who lawfully bought a property and, after paying many years in most cases a mortgage, wishes to let the property out to monetise the investment.’ He also explained how these measures will degenerate into a series of ‘determining market factors’ for people who are in unfavourable conditions to invest in property.
Looking at the future and even though the sector’s legal framework is being settled on, the expert believes that the property market is ‘today’s best investment’. Although it is a very heterogeneous market, the risk/return ratio in this sector compares favourably with others, where profitability may be higher, but at the cost of higher volatility and risk levels.