The tourism sector refuses to be the culprit, but there are who notes
It is expected that rents should continue to rise in the coming years
Gonzalo Bernardos think that the rise is artificial and that reason is structural
Renting apartments in Barcelona is shot and complicates access to housing for those most sensitive such as young people or the unemployed, and in general the many families who have not yet recovered the lost income with the crisis.
Rental prices have risen on average more than 25% from the first quarter of 2014, but in some districts, such as iris or Old Town, they have about 30%. After the decline that began in 2009 lasted until 2013, the comeback the last three years the average rent is located in the city above the record that was achieved before the crisis. The contracts in the first quarter of this year had an average price of 845 euros for the whole of the city. I forecast the real estate analyst and professor at the UB Gonzalo Bernardos is to continue to rise 8% this year and between 4% and 5% next year. “It is wrong to think that this is a bubble, are structural causes which are behind this dynamic and we must get used to living in Barcelona is expensive,” he said.
What are these structural causes? Basically a limited supply in a context of growing demand. If we add that the administration has few tools to take part in the board game we can say that the housing market is supply, which means that it establishes the rules that have properties . Demand has no other choice but to adapt. The Government has set a benchmark rents, but their effectiveness is quite unknown.
The study InAtlas is another replica of the City Council that was made public in June last year, whose conclusions indicate the opposite. That study focused on the great distance between the profitability of residential and rental rates. According to the occupancy of the flat income tourist who enters the landlord is between 2.35 and 4.07 times higher than the traditional model and average yield ranges between 7.68% and 13.40% when the alternative is between 3% and 4%. If you add other factors such as the feeling of vulnerability that has the owner rented to a resident, the temptation to move the floor of the housing market than the usual tourist housing is understandable. “Clearly Rental hits in the residential market,” said Maria Buhigas,
The international interest in Barcelona is largely an engine of what is happening. Is behind the phenomenon of the apartments but also the reform of many properties considering the global trading market. Worthwhile to look back and remember that Barcelona grew up at a time in its history, under the model of vertical property, this is especially so in districts such as Ciutat Vella and the Eixample. The owner of the property reserved the main floor and rented the other apartments. Paradoxically this structure, which in the past had endowed the housing market force units on lease, is now facilitating the purchase of entire buildings to investors and rehabilitation considering a buyer profile more purchasing power, often abroad.
In Socimi some have a varied menu and other more specialized areas but only buy assets first class to ensure the revaluation. Some family offices (managing large fortunes) have been grouped into Socimi to have more muscle and be listed on the stock exchange.
The question is what will happen when the winds now move the market investor in a sense change and do so in another sense? It remains to be seen, but Miquel Laborde remember the city center or at the worst moment of the crisis diminished interest in buying properties.
Meanwhile, local demand for private housing who want to live is also increasing as the economy improves. However, it is expected that factors such as demographics have a role in determining how previous cycles, since household formation will be less. However, the consultant Forcadell estimated housing needs in the province of Barcelona will be between 3,000 and 9,000 annually.