Spain Will Provide 100,000 Rental Housing Units From The Bad Bank, Financial Entities And Investment Funds

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Intermoney | The State plans to facilitate the promotion of 100,000 affordable rental housing units, half of which will come from Sareb, the Spanish bad bank created in 2012, other financial entities and investment funds, according to the newspaper El Economista.

Secretary of State for Housing, David Lucas, said this during a real estate event. On the one hand, the Administration is in negotiations with the funds for them to contribute 30,000 homes, which would continue to be their property, in addition to the 15,000 that Sareb would contribute. The banks would be in charge of the rest, up to 50,000. The remaining 50,000 of the plan would originate from the public housing stock.

Assessment: We will see the concrete results of this plan, once it is implemented. The government has recently implemented other initiatives such as the youth bonus to make access to housing more accessible to this age group. However, we believe that one of the causes of the price tensions in rental housing is the restriction in supply caused by the legal insecurity faced by owners. This is another of the vectors in which we think the different administrations should also act. However, we fear that certain measures of the future Housing Law, such as price control in the so-called stressed areas, will not contribute.

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