The listed real estate sector has managed the crisis well and is in optimal conditions to face the coming years, according to the dominant opinion among the 300 experts gathered at the V Iberian Reit & Listed Conference held in Madrid. Dominique Moerenhout, CEO of EPRA – the umbrella organisation for listed real estate companies in Europe – said that, in such challenging times as the present, “in the coming…
Norbolsa | According to a panel of experts in the sector, in 2023 it is expected that, house prices will advance, albeit timidly, by around 0.5%, compared to last year’s 6%. Sales, meanwhile, after an impressive 2022 (650,000 operations, levels not seen since 2007), will fall by 14%, to 557,000. The housing market has to face higher interest rates, economic slowdown, higher construction costs and a weaker labour market, but…
Bankinter | According to data from the Internet real estate portal Idealista, rental prices rose a little more than 8.4% in December compared to the same month in 2021. This compares to an increase of 7.3% year-on-year in November. On a month-on-month basis, it was up 1.1% in December. Analysis team’s view: The increase in rental prices is in line with the CPI we estimate for 2022 (8.4% on average),…
MS | Bart Gysens (analyst) has this Thursday published a report reviewing his preferences within the European property market, positioning himself for a transition from an environment of rising rates to one of recession. Leverage is still the determining factor which the team uses to see where the value is and is not. But as we enter 2023, where the macros see a potential recession, thus driving a greater importance…
Fernando González Urbaneja | Disordered thinking is one of the characteristics of the Prime Minister. It is not necessarily a mistake, since this disorder makes it easier for him to adapt to reality, to change his criteria in accordance with the Marxian principle that these are my principles but if I have to change them…. The liberality with which Sánchez handles facts, data and statistics is astonishing. For example, he…
Bankinter | Still nobody, or almost nobody, is talking about the consequences for the property sector of the new context we are facing. But it would be a good idea to do start doing just that. After a 2022 where housing prices are still going up (an estimated +5%), there should be a phase of adjustment. We are forecasting falls of 3% in 2023e and 2% in 2024e (vs +1%…
According to a report by the Bank for International Settlements, global real house prices increased by 4.6% year on year in aggregate in the first quarter of 2022. This strong growth in real terms reflected a surge (+11.2%) in nominal terms – the first double-digit one recorded since the eve of the Great Financial Crisis – partly offset by the acceleration in consumer price indices. Real house price developments continued…
Real estate investment in the first six months of the year in Spain amounted to 9,870 million euros, 80% more than in the same period last year, and the first half closed with the best data since historical records started, according to CBRE data collected by Europa Press. The retail sector (shops) led investment in this period, with a total volume traded in excess of 2,900 million euros, 8 times higher…
Amongst the measures to be approved today by the Council of Ministers, Prime Minister Pedro Sánchez has included limiting rent rises to 2%. This is against a backdrop of when, in February for example, the CPI rose by 7.6%, according to the INE. This will be a temporary measure, in principle in force until June, and will differentiate between large and small landlords. If the landlord is a “large landlord”…
Intermoney | The State plans to facilitate the promotion of 100,000 affordable rental housing units, half of which will come from Sareb, the Spanish bad bank created in 2012, other financial entities and investment funds, according to the newspaper El Economista. Secretary of State for Housing, David Lucas, said this during a real estate event. On the one hand, the Administration is in negotiations with the funds for them to…