High property prices, rising interest rates, new restrictions on mortgage loans and the scarcity of land announce changes in the real estate world and, especially, an increase in rents over sales. At the public policy level, the issue of “affordable rent” is already beginning to grow as a complementary modality to homeownership subsidies.
“We see this scenario with some concern. All these measures have a severe impact on potential owners and small investors. For both, these greater restrictions associated with the foot, which today are consolidated at 20% or more, are due to them. Add the combined effects of the rate increase, which have doubled in the last twelve months, and the term restriction. Today we see that maximum terms of 15 to 20 years are being delivered. If we lower the numbers, a house that costs two thousand UF, and whose dividend averaged $ 320,000 approximately a few months ago, today only due to the effect of the rate it would be reaching $ 450,000 “, he said Francisco Traverso, director de Valuation and Advisory Services de CBRE, in an interview with Pauta Square, from Radio GUIDE.
Traverso explained that if “an important immigration rate is added to this panorama, with a growth that is of the order of 1% per year of homeowners, and a current housing deficit that exceeds 500 thousand units, we believe that this will put tremendous pressure in the rental market. “
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Social housing for rent? The opinion of Iván Poduje
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“This is an opportunity for all those homeowners, owners of a property that can rent, but especially for the residential rental market,” Traverso said.
The executive assured that the multifamily -buildings destined entirely for rent- accounted for just eight projects in 2015 in the Metropolitan Region. At the end of the first half of this year, the number had risen to 69 projects. “As of 2018, about thirteen projects or buildings enter per year. If you add to that that we have a delay in the entry of projects as a result of the pandemic, for 2021 and 2022 there are talk of forty projects that should enter the market “, he counted.
“It’s a super healthy market,” Francisco Traverso said of the occupation. “Like all rental markets, at the beginning of the pandemic they were quite affected, but they recovered quickly. During the close of the first semester, the average occupancy in Santiago reached 92%; a very good occupancy for rental buildings” he added.
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Town
The initiative works on various formulas to counteract the growing housing deficit. Among them, a model of an investment fund and another of a social property broker.
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Check out the full interview with Francisco Traverso at Plaza Pauta
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