The new real estate law approved by the government has a significant impact on the rental market in Spain. According to Agencia Negociadora del Alquiler (ANA), the uncertainty of this bill makes many owners think about the need to sell their real estate, as soon as the current contracts signed by them with renters expire.
According to Jose Ramon Zurdo, managing director of ANA, from 15 to 20% of the company's clients are already thinking about selling their real estate. He also warns that this new law causes great fear in the real estate sector and paralyzes investment, which could lead to an even greater housing deficit.
It should not be forgotten that, according to the consulting company Savills Aguirre Newman, in order to meet the demand, two million new projects should be built in the coming years.
The Association also regrets that the government headed by Pedro Sanchez does not take into account the opinion of professionals in this sector. «The housing policy in the field of rental housing in the cities of Spain cannot be successful if it has not been discussed with market experts, for instance, with specialists from banks, professionals from real estate agencies or companies such as ours, which manage thousands of properties of private owners that make up 95% of the housing rented out», ANA team adds.
At the moment, this text has received approval from the Council of Ministers, which will process the resolution urgently in order to send it to the Congress of Deputies by the end of this year. However, it has not yet entered into force, and the date when the law will be approved is not yet clear.
In addition, according to experts in the field of labor, the full implementation of the law will depend on the decisions of autonomous communities and local councils.