first edition AreaThe reference fair of real estate investments took place in a negative environment. Only six months have passed since the European Central Bank (ECB) made changes to the economic policy of the European Union. The end of the ‘free money’ era, where interest rates were 0 percent, had a direct impact on the sector. A ‘wait-and-see’ stance was established in the market during the fair in October 2022. With rates and inflation rising uncontrollably, the value of real estate assets was volatile and unclear. Therefore, managers the mutual funds paralyzed their operations.
This paralysis was also reflected in the figures. In the first half of 2023, corporate real estate investments decreased by 50% compared to the same period of 2022. 5 billion euro real estate transaction The hotel sector, which performed best at the beginning of the year, was strongly supported by the impact of the tourism boom experienced by Spain. However, investments in other types of assets fell by over 70%.
The current context is different and the main conclusion of the fair is that if rates stabilize while the market is already discounting, real estate investment will recover in 2024. where the price of money and interest rates have a ceiling. This uncertainty will disappear in the coming months and 2024 will be better than 2023“said Juan Velayos, president of the fair, during breakfast with the media.
Another result of the fair was investors’ commitment to housing alternatives. living space and all its derivativesaspect to live togetherapartments, student or senior housing is one of these asset types more demand and less supply. In contrast, offices are the most suspect assets, especially those that do not meet sustainability criteria and are located outside city centres.
The region closes its second edition 10,467 professionals Real estate, Based on data provided by the organization. “We saw representatives of the state and pension funds, some of whom had not warned that they would come,” said Juan Velayos, who was pleased with the increase in participants.
A fair filled with paint
Although weather forecasts predicted serious rainfall in Barcelona on the first day of the Zone, it ended up just raining paint. A group of protesters affiliated with groups affiliated with the Platform for People Affected by Mortgages and the Tenants Union demonstrated in front of the gates of Fira de L’Hospitalet for about an hour. Only a small group threw paint at some of the participants.
Although the images were striking, they had nothing to do with what happened in 2022. After the incident, the forces responsible for the security of the venue “could not hold” the protesters who entered and tied them up after throwing objects around. They lifted themselves up. In a very unpleasant situation that was broadcast live on social networks, it was the Mossos d’Esquadra who had to drive out the intruders one by one. Events led to a situation Delay of more than two hours in the development of the fair.
On this occasion, the Barcelona City Council supported the organization with a new government team and security, although not complete, became better. Socialist Collboni backed the organizers against the uncooperative attitude of the former Ada Colau manager. The change in positioning is compounded by the fact that the organizing company is Catalan, its president is a defender of Barcelona, ​​and its sponsors are committed to the region. The Zone is difficult (or nearly impossible) to organize outside BarcelonaAs demanded by some high-profile voices in the real estate sector in Malaga, for example. The next edition, if everything goes as planned, will be held between 25-27 September 2024.
Source: Informacion
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