The District real estate show has once again served as the scene of protests by housing activists, which have created moments of tension with the Mossos at the doors of the event, which brings together everything from investment funds to developers and management companies. and consultants.
As happened in the first edition of the event last year, activists have stood in front of the doors to protest the presence of “speculative” funds and have chased and stained the congressmen with powder paint, although this time they have not able to get inside.
The protest, in which a hundred activists have participated, has caused the show, which will bring together some 10,000 executives from the real estate sector worldwide for three days in Barcelona, to start almost an hour late, since many of the Lecturers could not enter and the police ended up escorting them from their hotels to the venue, which they finally accessed through a side door.
The figures: 10,000 managers and 21 million impact
The District real estate show brings together some 10,000 international executives for three days and will have an expected economic impact of 21 million euros.
On the first day, representatives of investment funds, sovereign funds, family offices, commercial banks, large land owners, developers, consultancies and property managers analyzed the current situation of the sector, marked by high interest rates and inflation.
In general, the diagnosis is that the sector is very resilient and is prepared to take advantage of the opportunities that arise once rates stabilize in Europe..
The general director of the Blackrock investment fund in Spain, Adolfo Favieres, has predicted a “strong” increase in investment from the third quarter of 2024. “We are seeing the end of the interest rate increases, as well as a beginning of price adjustment,” he noted..
The resilience of the residential market
Experts have agreed that residential is one of the most attractive assets in Spain given the need for housing to meet a growing demand, especially in cities, with the metropolitan areas of Barcelona and Madrid at the forefront..
The CEO of the consulting firm CBRE in Spain, Adolfo Ramírez-Escudero, has also been optimistic about the future of investment in the sector.. “Investors will go where the needs are concentrated, in residential, in digital commercial or in the electrification of the economy,” he noted..
The head of CBRE sees more problems in the area of offices in Spain, because many have become obsolete and need adaptation to avoid losing value.
Criticism of the housing law
On the other hand, real estate managers and investment funds present in The District have attacked the Government's right to housing law, which provides for the limitation of rent increases and have warned that it will only “worse” the problem..
The CEO of Anticipa and Aliseda, Eduard Mendiluce, has expressed his surprise at the fact that the Government has opted for rent control to address the problem of access to housing in Spain.
“Catalonia already tried it from 2020 to 2022 and it didn't work. “I am surprised that with these results we want to repeat the disaster,” said the top representative of this real estate asset and mortgage loan manager..
Mendiluce has opted for long-term public-private collaboration to tackle the lack of housing, which, in his opinion, is behind the shortage of apartments with affordable rents.
“The lack of housing is the main cause of the problem,” has also insisted the president of the investment fund Meridia Capital Partners, Javier Faus, who has stressed that “populist” measures such as, in his opinion, the limitation of rents “They're only going to make everything worse”.
Along these lines, he has assured that the solution in cities like Barcelona involves regulation that considers the metropolitan area as a whole, with transport policies that guarantee rapid mobility from one end to the other.. Thus, he has defended, for example, a metro that goes “from Mataró to Sitges”, convinced that there is enough surface area to build housing in this large metropolitan area..
For his part, the CEO of the real estate company Servihabitat, Borja Goday, has also been against trying to solve the housing problem “based on more regulation”, which he believes will end up scaring away investors..
“The Government cannot address the problem of homelessness alone.. These are very strong investments. Doesn't have the capacity for it. So you need public-private collaboration and talking to experts,” he said..
For his part, the president of the Association of Developers and Builders of Catalonia (APCE), Xavier Vilajoana, has called for public-private collaboration to grow the stock of officially protected housing, which now represents less than 2%, and has assured that in 2022 the private sector built 74.1%. “In Barcelona, urban land is needed to build homes: there are reserves to build more than 52,000 officially protected land in the metropolitan area and 20,000 in the capital,” he said..
The event, which will last until Friday, has three main axes: the development of capital market structures; the transformation experienced by different assets such as Residential, Hotels, Offices, Retail, Industrial and Logistics, Healthcare, Senior Living & Student Living or Data Centers; and the value of sustainability criteria.