Post by account_disabled on Mar 13, 2024 5:33:56 GMT -5
The business of promoting to rent takes center stage in the Catalan capital. Barcelona will incorporate 6,000 new 'Build to Rent' (BTR) homes in the next three years. This is one of the conclusions of the Living Trends Report prepared by the real estate consultancy CBRE. In total, 37,000 BTR homes are expected to be delivered in Spain in the coming years, 85% of these between Madrid and Barcelona. However, these homes will continue to represent a small percentage of the number of new construction permits.
“The main problem to be addressed is the lack of rental housing supply. Guaranteeing a framework of legal security and competitiveness is key to promoting private investment Phone Lead for housing development. De-bureaucratization and greater agility on the part of administrations , the promotion of public-private collaboration agreements (such as the plans already implemented by Habitatge in Barcelona and the Vive plan in Madrid), the industrialization of production processes or tax credits for owners with offering rentals at affordable prices, among others, are some of the measures to respond to the need for housing,” said the Director of Research at CBRE Iberia, Miriam Goicoechea .
The mismatch between housing supply and demand has caused an increase in rents. The rental price in Spain closed the first quarter with a year-on-year increase of 8%, up to 11.3 euros per square meter per month. This figure has become the all-time high, both nationally and in most major cities.
Barcelona stands out from the rest and remains the most expensive city in Spain to find rental housing, with 18.6 euros per square meter per month, a growth of 20% compared to the first quarter of last year. Madrid is positioned in second place, with an income of 16.2 euros per square meter per month and an increase of 10%.
Palma has overtaken Bilbao as the third city with the highest rents and has closed the first quarter with a price of 13.7 euros per square meter per month and an increase of 19%.
On the other hand, through the Terra Project, CBRE has identified a total of 6.6 million square meters of vacant residential buildable area in Barcelona where around 50,000 homes could be developed. In Spain, there is an average of 255 million square meters of vacant residential buildable area, with the capacity to build 1.8 million homes, which would be absorbed in more than 30 years.
In Madrid, Barcelona, Bilbao, Malaga, Valencia and Seville, due to the lack of supply, investment is focused on land under development, in order to access land pockets. However, investment interest is increasingly concentrated in these provincial capitals, where a type of highly liquid product with little risk in its marketing phase is sought thanks to the high demand for housing.
“The main problem to be addressed is the lack of rental housing supply. Guaranteeing a framework of legal security and competitiveness is key to promoting private investment Phone Lead for housing development. De-bureaucratization and greater agility on the part of administrations , the promotion of public-private collaboration agreements (such as the plans already implemented by Habitatge in Barcelona and the Vive plan in Madrid), the industrialization of production processes or tax credits for owners with offering rentals at affordable prices, among others, are some of the measures to respond to the need for housing,” said the Director of Research at CBRE Iberia, Miriam Goicoechea .
The mismatch between housing supply and demand has caused an increase in rents. The rental price in Spain closed the first quarter with a year-on-year increase of 8%, up to 11.3 euros per square meter per month. This figure has become the all-time high, both nationally and in most major cities.
Barcelona stands out from the rest and remains the most expensive city in Spain to find rental housing, with 18.6 euros per square meter per month, a growth of 20% compared to the first quarter of last year. Madrid is positioned in second place, with an income of 16.2 euros per square meter per month and an increase of 10%.
Palma has overtaken Bilbao as the third city with the highest rents and has closed the first quarter with a price of 13.7 euros per square meter per month and an increase of 19%.
On the other hand, through the Terra Project, CBRE has identified a total of 6.6 million square meters of vacant residential buildable area in Barcelona where around 50,000 homes could be developed. In Spain, there is an average of 255 million square meters of vacant residential buildable area, with the capacity to build 1.8 million homes, which would be absorbed in more than 30 years.
In Madrid, Barcelona, Bilbao, Malaga, Valencia and Seville, due to the lack of supply, investment is focused on land under development, in order to access land pockets. However, investment interest is increasingly concentrated in these provincial capitals, where a type of highly liquid product with little risk in its marketing phase is sought thanks to the high demand for housing.