Logroño, November 26 (EFECOM).- The measures approved by the government to alleviate the burden of mortgages due to the rise in Euribor “can have a very positive impact on the economy”, said the president of the Professional association of real estate experts. (APEI), Oscar Martinez.
These measures, he added, are also “a relief” for the real estate sector and to prevent banks from having to buy homes again due to non-payment of mortgages, even if he believes that ‘at present, “there is no high crime rate”. “
“What is needed now – he assured – is that the temporary taxes on banks”, approved on the 24th in the plenary session of Congress, “do not result in banks granting fewer mortgages or putting more obstacles to their authorization”.
In the package of approved measures, APEI assesses the application of 5-year shortfalls in mortgage capital and a reduction in the applicable rate to Euribor less 0.1%, when the increase in the mortgage effort is greater than 50%.
In addition, she finds it “interesting” to include a grace period of 2 years and an extension of the duration up to 7 years if this increase is less than 50%.
From the APEI, which has more than 1,300 branches active throughout Spain and 22 territorial delegations, we also applaud the reform of the Code of Good Mortgage Practices of 2012, which has been expanded and made more flexible.
He understands as a good measure the creation of a second set of measures more centered on the middle class and additional measures, such as the abolition during 2023 of certain expenses and commissions linked to mortgages.
SLOWDOWN IN SALES
Martínez pointed out that adherence to this code of good practices is voluntary for banking entities, although a priori it is “interesting”.
He justified the APEI’s interest in all these measures by the fact that “if interest rates continue to rise, which will rise a little more, and the economy continues as it is, we must support the families weakened in the payment of mortgages”.
She also acknowledged that the bank, with its mortgages and loans, “always helps the real estate world”, so this Association expects that the temporary taxes on financial institutions will not result in the non- granting of loans and that they continue to authorize “reasonably”, has had an impact.
Regarding the situation of the real estate market in Spain, he said that “it is difficult because of the very situation of the economy”.
He pointed out that although the sector has seen a few years of increased sales and a “reasonable” increase in prices, the situation “is complicated” for all sectors.
At this stage, it is expected that there will be “a slowdown in sales” and, therefore, “it will also be more expensive to sell a house”, which does not mean that a decline in the sector is estimated, “far from this”.
However, “those who are in a hurry to sell will have to adjust the price”, explained Martínez, for whom housing and construction are “the most important thing in the economy”.
Therefore, “any movement that exists in the real estate market affects the economy in general”, he stressed.
REGULATING REAL ESTATE MEDIATION
Among the issues of concern to the APEI, which celebrates its 34th General Assembly in Madrid this Saturday, there is also the regulation of the real estate mediation sector, she said.
“In the APEI -he explained- we have opted for self-regulation for years”, and “all our associated real estate agents meet very strict requirements, both in the professional preparation and in the guarantees that ‘they provide their customers with insurance in good standing, among other measures’.
He stressed that “it is a professional environment that can manage large sums”, for which “we consider it so important that there is good control of the sector and the exercise of its professionals.