Habitat Inmobiliaria negotiates with funds to bet on build-to-rent

Habitat Inmobiliaria negotiates with funds to bet on build-to-rent

The information was advanced by the company’s CEO himself, José Carlos Saz, who, in an interview to newspaper El Economista, assumed that « we are trying the formula build to rent, which is based on building dwellings for rental and immediately pass them on to a third party, some fund, to manage and exploit it. We have not, however, closed any operation with any of the funds yet», he explained.

Despite considering that the rental market «was already growing before Covid-19 and will keep growing now», José Carlos Saz explained that «we do not plan to become owners as other developers have done to manage their rented dwellings because we see ourselves as pure developers».

According to José Carlos Saz, the developer’s business is good even during times of pandemic. «We currently have 43 developments with more than 4.000 dwellings being marketed and 1.400 pre-sold for 370 million euro», advanced the developer’s CEO.

Even now the demand for housing units «continues» and there is margin to grow, his secret is to «generate confidence and tranquillity for the client. I believe that the housing segment will recover during the first semester of 2021. It is normal that, for now, demand will retract somewhat, but once the country stabilises, buyers who are considering buying a house will acquire them and demand will return», he believes.

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