This new generation consolidate the rental as the first choice, since 80% under 35 years old do not want or do not believe they will be able to buy a house. These are some data from the report presented a few days by Gesvalt, a Spanish Valuation and Advisory company, at Realty Spain fair, which took place in Madrid.
The report states that all these changes have encouraged a higher professionalization of the market and an emergence real estate investment funds specialized in rental residential market. Thus, are being constructed properties totally devoted to rental, with a better management and quality, suitable for the tenants needs. The average gross return is now of 4.5%.
Regarding the housing sale-purchase, the report indicates that the real estate price, in Spain, has increased 2% in 2017, a rise that adds to the 1.3% registered in 2016.
Sandra Daza, Managing Director of Gesvalt, said that «if the volume of the completed house decreases and the volume of transactions increases in the same proportion, this leads to a stock reduction, and to a rebound already seen in the price. Our forecast is that it will continuing to increase moderately in the next months».