The real estate sector in general – and in particular the housing market – faces 2015 with optimism. It has left behind a hopeful 2014 where, besides coming back to warm green numbers in many aspects, it has settled the bases for a new cycle. A new period, above all, for potential house buyers.
According to the experts, 2015 – apart from being expected to secure the launch of the real estate sector – will open its doors to the demand for housing. This reopening will be founded on three pillars: the stabilisation of prices, the increase of credit (cheap ones) and the increase of the offer for new buildings.
This prediction is broadly shared by Gonzalo Bernardos, Economist and Director of the Real Estate Master Programme of the University of Barcelona; García Montalvo, Economist and Professor of the University Pompeu Fabra; Julio Gil, President of the Foundation of Real Estate Studies (FEI); and the Real Estate Consulter José Luis Ruiz Bartolomé.
The situation is ideal for a considerable increase in the amount of purchases and sales.
The four analysts predict that with these three variables (price, financing and offer) aligned, the situation is ideal for a considerable increase in the amount of purchases and sales, thus, reactivating the real estate and construction sectors, which are essential for the economy.
However, experts point out that All that glitters is not gold. During 2015, we will see again a market of different speeds. On the one hand, there will be moments when prices will settle and, on the other, there will be areas where the adjustments will continue more moderately”, Gil explains, who still perceives an oversupply and a low purchasing power in homes.
Bernardos also points out that the increase in the transactions will not be homogeneous. He points out that consolidated areas in big cities (mainly Madrid and Barcelona), that constitute the middle and upper classes, will be the driving force behind the purchasing activity. He even dares to predict increases in price above 10% in these valuable enclaves. “The rise in these prices will contrast”, he adds, “the global standstill to be registered in medium-size cities and the capitals of provinces.”