WITH optimistic expectations in place for the next few years, the Spanish residential construction sector must turn its attention to the long-term and the responsibility of accommodating younger generations and affording them the same opportunities their parents enjoyed.
That was the essential conclusion of the Association of Promoters and Constructors of Spain (APCE) at their national conference in Madrid which drew hundreds of property experts to discuss the industry’s future.
APCE president Juan Antonio Gomez-Pintado declared that production will increase from 3.8 per cent in 2015 to 15 per cent this year as the sector finally shakes off its hangover from the financial crisis.
He argued, however, that this shouldn’t lead to any complacency and called for a simplification of mortgage regimes, a lowering of taxes and measures to lure more international investment in order to secure construction growth over the long-term.
Young Spaniards have been frozen out of the mortgage game for nearly a decade and forced to rent as the construction industry took a serious hit in 2007.