These words, “Speak for themselves of the good times the Spanish real estate market is experiencing, and the main indicators continually show that the sector has entered a new cycle of expansion,” commented Eloy Bohúa, General Director of the Salón.
Bohúa emphasised the pleasing performance in general of the sector indicators: house construction, the recovery of demand, increase in sales and mortgages granted for house purchase, the reduction in the financial status required to buy a house and the growth in employment due to increased building activity. In his opinion, “We are entering a new cycle, likewise at the fair, with annual increments in two digits. Without doubt, this year will be for SIMA the reactivation of the sector.”
This new reality for the sector has also transferred itself to the fair in the form of a residential supply which is being renewed year by year. “Definitively, the available stock in times gone by is almost a thing of the past at SIMA,” adds Eloy Bohúa. Just a few weeks before its inauguration, and according to data gathered from the web from fair exhibitors, ‘key-in-hand’ developments only make up 15% of residential supply up to the present, when, before last year’s event, and for a similar period, ‘key-in-hand- projects made up almost 40%, or even 90% in the 2010 and 2011 events.
As is now the norm, the capital Madrid and its Community show the great majority of houses being marketed at the fair: 26% from the data collected so far, though, taking into account tendencies before previous events, this percentage could rise right up to opening day, as exhibitors update their information on the products they will be presented at their stands.