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Engel & Völkers' first breakfast meeting at ASPRIMA

Last week at the facilities of ASPRIMA, the Association of Real Estate Developers in Madrid, the first breakfast sponsored by the real estate agency, Engel & Völkers, was held. 



During this formal breakfast meeting, the Engel & Völkers' new construction sales director, Óscar Larrea, explained to the attendees the characteristics of the 21st century customers who opt for newly built properties. He also talked about how the investors' specifications and demands as well as the new appearance of small investors have changed when it comes to buying a property. 



With regards to the rental market, the Bank of Spain, which updates the figure with the rental CPI, calculates that if the average annual gross return is added to the 12-month capital gains, it turns out that buying a property to rent out equals to 11.4% (a year ago it was 8.8%). Madrid is the city that boasts the greatest demand: 28% of those seeking a property for rent do so in the capital, despite the fact that the average rental price has already reached 1,137 euros per month. 





Larrea clarified that, unlike what has been published in recent weeks, the lack of rental property has nothing to do with the increase in holiday rentals, but with the shortage of newly built homes in Madrid and Barcelona 

Madrid - Desayuno ASPIMA.JPG

The lack of supply is compounded by growing demand and difficult access to financing. In addition to the people who voluntarily decide to rent a property, there is also a forced demand from those who can pay a monthly mortgage payment the same amount or even lower than rent, but they have no savings to put down as deposit. "Without having around 20% of the purchase price, on top of the 10% of the purchase and sale fees, the bank will most probably not give them a loan and as a result they will have to turn to the rental market". 





It is also worth noting that the new generation of private customers prioritises renting over buying, they prefer working in an office, using the mobile phone rather than a PC, and communicate by Whats App and Chatbot. 





The Association of Real Estate Developers in Madrid is a business organisation, which is independent of any type of political or social group. Since 1977, its main objective has been to defend the professional interests of real estate companies. It also endeavours to provide a good service to the Community and open communication with the Public Administrations to try to find solutions to the problems that affect the sector. 

ASPRIMA carries out a complete Training Plan aimed primarily at its associates with one-to-one and online courses, both in subjects that are of general interest and specific to the real estate sector.




Madrid - ASPRIMA.PNG

Creemos que estos artículos relacionados también le pueden interesar:



--> Qué es el método Inbound y cómo puede aplicarse en el sector inmobiliario





-->Renueve su oficina e incremente la productividad de sus empleados




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