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Toribio, Beatriz

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Cinco Días - Spain | 14/01/2014

Spain needs functioning leasing market

The leasing market for rented accommodation in Spain is still very small. Only 17 percent of the population lives in rented flats or houses, compared to 47 percent in Germany and 38 percent in France, the left-liberal business daily Cinco Días comments, noting however that the present conditions are favourable for a change in trend: "Our under-development compared to our European neighbours reflects the potential this market can have for our country - particularly now that the crisis has opened the Spaniards' eyes to this way of life and generated a social demand that will increase as long as access to loans is restricted and the citizens don't feel the signs of recovery in their pockets, which will take a few years. If we want to see levels of rented accommodation comparable to those in other industrialised countries, the foundations for this market to take off must first be laid. ... The time is ripe now because the most important factor, a change of attitude in a country full of house owners, is in full swing."

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