Tecnotramit was once again the lead at the 5th edition of the National Conference for Property Servicing (CMS), held at Madrid’s Teatro Goya. Vicenç Hernández Reche, Tecnotramit’s CEO, participated at the round table ‘Spain’s rental market: keys to investing in an unstable and uncertain context’ alongside other renowned experts from the property sector.
In a context in which the rental market maintains great attractiveness when it comes to investment despite legal instability, experts debated issues such as: Is it still appealing to invest in rentals? How are supply, demand, and prices expected to behave? How will property agents be impacted by the latest regulatory changes?
Vicenç Hernández Reche emphasised the rental problem must be dealt with ‘in a transversal manner and with new housing policies adapted to the market’s real situation.’ ‘The lack of supply increases the number of sub-housing and environmental degradation. We face a serious social problem of access to the property market in Spain’s main metropolitan areas, while results from initiatives such as the “Plan Madrid Vive” (Madrid Lives Plan) and “Habitatge Metròpolis Barcelona, HMB” (Barcelona Metropolis Housing) have been very uneven.’
‘The Next Generation benefits are masking a precarious budgetary situation. The situation would be very different if 0.6% of Spanish GDP were allocated to public housing, as we would have a budget of 8 billion per year instead of the current 1 billion. This year’s budget for public housing policies is half of what it was 20 years ago, no matter how much President Sánchez says that housing is the fifth fundamental pillar of our society. With these figures, it is impossible to increase the supply of affordable rental housing,’ the expert added.
In closing the round table, Hernández Reche insisted that the regulation of the rental market ‘has achieved the opposite result wished for,’ causing ‘more issues for people with fewer resources to access the market.’ ‘Let’s not forget that rising interest rates have also made it more difficult for less well-off citizens to buy. And this is happening while we have an increasingly deteriorated housing stock due to a lack of investment, an increase in inequality between communities, and less investment and housing construction,’ said Tecnotramit’s CEO.