PSOE Agreement With Add for investment Pedro Sanchez It offers little new to what the two political formations have already proposed in the current legislature regarding housing. However, various real estate agents have noted the lack of specificity in the measures presented this week.

On the one hand, the entire sector agrees that further control over rental prices will not solve any of the problems existing in the market. And while they welcome the intention to increase public sector housing stock, they question the timing of reaching levels that will address the price stress currently plaguing the market and hampering access to housing.

“Increasing the public housing stock to reach 20% of the total stock seems fantastic to me, but given that it is currently only 2% of the total stock, it seems like a dream to me. “, says Iñaki Unsain, CEO of ACV Real Estate Management. To give this a powerful boost, he believes a state pact between the country’s main political forces will be needed.

“This is a very correct and necessary decision to promote public rental housing. However, it is important to consider the time frame from the decision to its implementation and the effective creation of this public rental housing stock,” adds Mercedes Blanco. General Director of the Vecinos Felices Real Estate and Rental Authority and member of the Legal Advisory Committee of the Official College of Real Estate Agents (COAPI). In this sense, it is necessary to know the exact number of houses available and the ultimate goal.

For rentThe purpose of the pact is to further explore what the Housing Act provides. “From an economic point of view, it is clear that any regulation that discourages owners and thereby reduces the supply of rental housing represents an increase in the rental prices of these housing as a consequence of the interaction in the market between strong existing demand and a reduction in supply,” adds José Maria Basanez, President Teknitas group.

Property portals also believe the proposed measures contain little detail. In The Idealist they believe that the pact presented Yolanda Diaz And Pedro Sanchez It contains little news about what their respective formations have offered so far.

Fotocasa asks “how rent control will be strengthened”, since so far most of the measures included in the housing law depend on statements from autonomous communities, and this does not allow them to be applied at state level.

“This pact confirms that the law again focuses on just one part of the rental market: protecting tenants and vulnerable groups. Meanwhile, the other fundamental axis that makes up the market, the owners, remains without legal security, and this situation prevents the creation of an atmosphere of trust and the expansion of offers,” explains Maria Matos, Research Director at Fotocasa. More than 90% of the rental fleet is in private hands.

For his Pisos.com colleague Ferran Font, there is not much new regarding the latest deadline. “The law was not enforced in any community, but it caused a lot of tension in the rental market,” he explains. What it did was reduce supply and, as a result, created a greater imbalance between supply and demand, causing prices to rise, especially in major capital cities.

As for expanding the offer and the social park, for Matos “this is always a positive measure.” The supply of public rentals in Spain is very far from our average and all political parties agree that the number of rental properties needs to be increased. “The question is how it will be done,” Matos says.

According to him National Institute of Statistics (INE) There are 25 million houses in Spain. If you want to increase it by 20%, you will have to collect 5 million. “The first thing you ask yourself is what budget will be allocated and for how long,” says Font. Reaching that figure, he adds, “will take at least two decades.”

Matos recalls that during the campaign, almost 200 thousand “houses that do not yet exist” have already been announced. The main route will be construction, but this requires public-private cooperation. However, “the difficulties of organizers not only in obtaining funding or developing promotion, but also the lack of land, the slowness of the bureaucracy, increasing construction costs and labor shortages make the expansion of the social sphere very difficult. offer in Spain,” he adds.

Tecnitasa believes that in order to reduce rental prices in a high-demand situation such as the current one, it is necessary to implement measures that increase supply in two different ways: incentivize the owner-investor to allocate his home to rental, thereby increasing supply, and increase supply for by promoting more social housing. “The first thing can be done very quickly by adopting rules that benefit the landlord and also provide legal security,” says Basanez.

“The second is much more difficult and time-consuming, although it must be undertaken because the social housing stock in Spain is 4 times lower in percentage terms than the European average and up to 10 times lower than in other countries such as Holland. or Austria”, Add.

Tourist rentals

The investment agreement also mentions an intention to review the regulation of tourist accommodation in stressed market regions. In housing legislation, this clause was removed from the agreement in order to promote the norm. “It’s a good headline, but it doesn’t provide much specificity about how this legislation will evolve as there are differences between different municipalities,” Font explains.

Likewise, the pact would also approve a national program of assistance and subsidies to improve the affordability, livability and energy efficiency of 500,000 homes, giving priority to families with dependent children and low-income families.

It is also proposed to expand the threshold of access to support measures for those who have suffered from rising mortgage rates to the average income (37,800 euros): extending the loan to 7 years and freezing installments for 1 year.