Construction balance: New homes grow and rehabilitation stagnates


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The reactivation of demand makes the residential market outperform month after month. And with it, the construction of new houses. An activity to which rehabilitation with new aid must be added.

Property developers have been demanding replacement housing for some time. Second-hand houses have not stopped being an engine for the sector. But stock in the big markets runs out quickly.

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Among the solutions, the rehabilitation of an aging residential park and the construction of new developments have uneven luck.

On the one hand, building renovation visas hardly increased by 2.2% in the last year. Even the average number of houses rehabilitated monthly falls.

While residential construction chains four positive years. In fact, the sector has consolidated over 5,000 properties per month.

A level of production of new homes that is close to that achieved in 2010. More properties, and larger in both apartments and houses.

'Rehabilitating' impatience with the Housing Plan

Certainly, the effects of the old 2012-16 Housing Plan have been disappointing.

Faced with the stoppage caused by the bursting of the bubble, the Government proposed to encourage real estate rehabilitation. Adopting an aid program until 2017 that has been insufficient.

The latest ' Construction management visa statistics. January 2018 'published by the Ministry of Development shows this.

While construction reactivates, driven by demand, the rehabilitation and residential reform has barely registered improvement in the last year.

According to the newspaper Cinco Días and the data from Fomento, the rehabilitation of buildings has increased by less than 700 units during the last year. The companies in the sector have gone from reforming 31,615 farms (2016) to 32,313 (2017). 2.2% more.

A situation that is even worse from the point of view of individual homes. whose number has fallen from 26,094 units (2016) to 26,024 (2017). 0.26% less.

The sector demands more aid and fewer obstacles

Both the rehabilitation of buildings and housing are far from the figures achieved more than a decade ago.

In fact, the 26,024 homes rehabilitated in 2017 barely accounted for 56.6% of the historical maximum registered in 2005. When 45,931 properties were rehabilitated.

While in the case of buildings, the 32,313 rehabilitated in 2017 represent 79.2% of the historical maximum of 2009. Year in which 40,758 properties were renovated.

In these circumstances, the entry into force of the State Housing Plan 2018-2021 is positive news for owners and investors. Both due to the improvement over previous calls, as well as the increase in the amount of subsidies.

One of the most celebrated novelties is the expansion of the scope of action. Being able to benefit from the aid all those houses built before the year. nineteen ninety six.

While the amount of the grant can cover 75% of the money allocated to reforms in some cases. Especially between special groups.

New homes continue to grow

Demographics and real estate investment seem to be going in opposite directions. While families seem to shrink in size, the demand for new homes continues to gain meters.

Development data also includes the average surface of new construction properties. Statistics where it is confirmed that the average size of block dwellings was around 120 m2 last year.

Specifically, the apartments approved in 2017 had an average surface area of ​​118.9 m2. Compared to the 98.3 m2 of 2007. Compared to the bubble years, the floors gain almost 20% of surface.

Something similar happens with single-family houses, whose average size goes from 167.6 m2 (2007) to 199.2 m2 (2017). Approximately 19% more space available.

Homes that respond to solvent demand

The developers confirm this trend in the residential market.

Asprima points out that between 60 and 70% of new homes, in addition to those sold off plan, have three or four rooms. And they have an area that ranges from 100 to 120 square meters.

It is a stock that responds to the demand for replacement housing. Due to lack of space and greater amenities available. In addition to the interest on the part of investors.

The desire to buy large homes is a trend that comes from 2016 and is still increasing, especially among families with high purchasing power ," they point out from Tinsa.

The competitiveness of prices drives the offer of properties from 150 to 180 m2, with a price ranging from 600,000 to 800,000 euros ," they point out.

Properties with excellent qualities and careful design.

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