Gonzalo Bernardos accuses Sumar of not supporting the owners of rental properties, leading to diminishing property availability.
In a recent interview on 'Mas Vale Tarde' (La Sexta), economist Gonzalo Bernardos shed light on the reasons behind the significant increase in rental prices in Spain.
Bernardos attributes the situation to a combination of factors, including a strong Spanish economy and more people moving from part-time to full-time contracts. However, the key driver, he emphasizes, is the imbalance between high demand and a scarce housing supply.
According to a study by Idealista, rental prices in Spain reached a historical maximum in June. This surge is largely due to a 20% year-over-year drop in homes for sale nationwide, a decline that is even more pronounced in major cities like Madrid (25%) and Barcelona (21%).
The professor of Economics at the University of Barcelona, Marina Valdez, shares Bernardos' concerns. She predicts that the annual increase in rental prices could reach 22%, based on Idealista's study data.
The real estate market is causing discontent among the Spanish, with many finding it increasingly difficult to afford housing. Bernardos, however, offers a glimmer of hope. He predicts that the real estate boom will continue until the end of 2025, with indices around 15% and 20%.
Another factor contributing to the current real estate market scenario, according to Bernardos, is the policies promoted by Sumar at the instance of the Executive and its governing partners. These policies, he explains, are unfavorable to property owners who offer rental properties, leading to a decrease in supply and exacerbating the housing crunch.
Bernardos also highlights the influx of immigrants with purchasing power as a significant factor in the current market. Today, it is cheaper to buy a property with a mortgage in Spain than to rent, he notes.
In summary, the Spanish rental market is experiencing significant price increases due to a supply shortage, demand pressure, economic factors, and policies that are unfavorable to property owners. Bernardos' analysis points to housing scarcity as the main driver of rent increases.
While the short and medium-term outlook may not be optimistic, Bernardos hopes that by the end of the year, the annual increase will be around 15%. However, he sees it likely that it will remain higher, causing continued discontent among the Spanish.
- The economist Gonzalo Bernardos, in a recent interview, stated that the Spanish housing market's steep rise in rental prices is a result of factors like a robust economy, employment shift, housing-market imbalance, and unfavorable finance policies.
- Aside from economic aspects, the influx of immigrants with purchasing power is also contributing to the real-estate market, as it's now cheaper to buy a property with a mortgage in Spain than to rent.
- Despite the predicted decline in annual rental price increases to approximately 15% by the end of 2025, according to Bernardos, the general-news trend suggests that the Spanish people may continue to experience discontent due to the high costs associated with housing.
