Adjust focus – Diary of Change num.105
In issue 105 of the Diary of Change, we discuss the most notable traits in the real estate sector over the past year.
To start the year, we always like to create a Diary summarizing the most notable traits in the real estate sector. A year likely marked by the strong demand, whether for rent or for sale.
This context of high demand has been driven by many variables, from demographics to the drop in interest rates and the subsequent improvement in mortgage conditions, as well as the attractiveness of Barcelona and its surroundings as a destination to live and work. However, it has clashed head-on with the scarcity of supply, little private supply, and none from the public or cooperative sectors. Especially in the rental market.
We are facing a difficult puzzle to solve. Limited space and a growing population. Space is difficult to change, and in a global world dominated by large cities, it is likely that even more people will be drawn to Barcelona and its surroundings. Facing the issue only from the perspective of housing will not be enough; it must be linked to coherent policies on territory and mobility. Without a global vision, we will never find the best solutions, but one thing is clear, we won’t all fit if we don’t lift our gaze and build housing policies, mobility policies, equipment policies, and economic fabric policies starting from the metropolitan region of Barcelona.
At the political and media level, in recent years, there has been no global vision, it’s basically all about housing. Very important that this is the case, but we will fall short if we only follow this path.
And when talking about housing, focusing on rental as the main option for access to housing for a large part of the population, the focus has constantly been placed on private landlords, and this is the anomaly, where is the public housing stock? Only a significant change in access to housing will occur if the Public Administration finally performs its function, which is to create and/or facilitate the creation of a significant public and cooperative housing stock. Until this happens, the other measures will either be counterproductive or simply empty gestures to divert attention from their responsibilities.
The decisions of the past have led us to this abyss, but if we do not make the right decisions today, and especially if announcements do not turn into realities, we will remain at the bottom of the precipice for years.
Contrary to what is happening, those who at the private level invest in the current complexity with a long-term vision to provide rental supply should at least be considered an active part of the solution.
Guifré Homedes | General Director
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Read more reflections in the “Diario del Cambio” by Immaculada Amat
The Diario del Cambio is an initiative of Amat that arose in response to the financial crisis that erupted in the summer of 2008, which had a major impact on the real estate market. At that time of uncertainty, Amat felt the need and conviction to inform its clients, collaborators, and contacts about the events and changes happening that affected everyone.
