- Join Funding: ¿Is there a problem in the hand trade?
- Advantages of alternative financing: speed and flexibility
- Funding and sustainability
- Interference with farm government
- Obra nueva vs. Rehabilitation: a matter of sustainability
- Future forecasting and the role of alternative financing
Last Monday, October 28 Confidential Digital (ECD) She hosted an informative breakfast Roca Madrid Gallery centrado en Alternative finance to banking in the real estate sector.
La mesa de debate, modera por Jose Antonio Fraucaeditor jefe de ECD meets the main personalities of this sector: Luis LosantosCFO of Geswalt; Henry GallegoCEO de Ktesios SOCIMI; Jorge Gonzalez-Iglesias BaezaCEO and co-founder de Gibbos Allbanks; Jorge GinesCEO of ASPRIMA; Asier Uriartedirector de Iziland; y Carlos AguileraDirector of CE de negocio real estate de CaixaBank.
La conversación abarcó los retos actuales y el crèquente papel de la Financiación alternative One la bancaria completes, because permanent cambio potential solutions for real estate trading.
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Join Funding: ¿Is there a problem in the hand trade?
Carlos Aguilera (CaixaBank) Defense after deliberations the soundness of the existing banking system and the sector's ability to finance sustainable projects thanks to the high liquidity that financial institutions still manage.
According to Aguilera, there is no financial crisis in a general sense, but the sector has a problem of lack of own funds. Traditional promoters are dependent on capital contribution from funds that entered the market during the 2012 crisis and current returns have come down significantly compared to that period, un vacío de Financing for ciertos proyectos de grand envergadura.
In contrast, Henry Gallego, CEO of Ktesios SOCIMIhe emphasized that alternative financial projects have been found Difficulties important to get a loanespecially in sectors less attractive to banks such as affordable housing.
Según Gallego, la funding alternative is allowed Asumir mayores riesgos En proyectos fuera de las zonas de alta demand y aquellos con impacto sosial positivo, aunque a un coste superivo, ya que los margenes son is significantly greater than traditional finance.
Advantages of alternative financing: speed and flexibility
Clause Jorge González-Iglesias Baeza, CEO of Gibbons Allbanksa digital platform that provides the best financial terms of the market for both banking and non-banking organizations for promoters (gibobs.com), destacó que Alternative financing is mainly characterized by its speed and adaptability.
Alternative financiers compared to banks face complex bureaucracy and rigorous risk assessment pueden dar respuestas en plazos menores y accepted riesgos que los tradicionales bancos suelen evitar.
La lentitud de los trámites bancarios This has a serious impact on the profitability of projects, explained González-Iglesias, which opens the door to alternative institutions that capture more of the market in sectors where the bank focuses only on large and medium operations.
by you, Asier Uriarte, director of “Iziland”.destacó que la financing alternative está logrando cover niche specificsespecially in locations or types of projects where a traditional bank can't offer solutions or doesn't understand the appeal.
Uriarte commented that alternative financing is particularly useful zones en crecimiento y proyectos residences que se encuentra off the banking radarspeed allows promoters access to flexible funding, although it implies a higher interest rate. No holds barred, promoters are realistically aware of this when they factor in other factors such as the cost of stalling a project due to slow bank loans. la financial alternative is competitive.
Funding and sustainability
Sustainability has become an important requirement when obtaining financing in the real estate sector Carlos Aguilera, de CaixaBankEmphasis. Financiación bancaria, según explicó, profitability with no solo assessment, Chinese projects impact the environment.
However, Henry Gallego Added continuity requirements additionally inhibit in rehabilitation projects of old buildings, because adapting the same buildings to current sustainability standards requires considerable investment.
Interference with farm government
Durante la charla, el tema de la intervention del gobierno y sus efectos sobre el mercado fue Against disputes. Algunos participants las politicas recientes señalaron, como alquiler de precios de controlyou can without investment in the real estate sector.
Jorge Gines, CEO of ASPRIMAHe pointed out that there is interference in prices in any sector there is no effective result y que, lejos de controlar los precios, estas medias podridan agravar el problema al reducir la investment and the supply available in the market.
Los ponentes coincidedieron en que Regulatory stability is essential to attract capital over the long term. Los cambios constants en la normative, explicaron, pueden disincentivar a los inversores, que buscan juridagic seguridad antes de compromez su capital in proyectos largo plazo. Las norms de que el Estado intervenga de que el mercado alquiler de valuable controls and opportunities han creado incertidumbrelo que podría reducir el flujo de national como-abroad by investing.
Obra nueva vs. Rehabilitation: a matter of sustainability
The table also explored the question of whether priority should be given to new work or the rehabilitation of existing buildings. Jorge Gines abogó por la obra nueva en regions metropolitanas de alta demandLike Madrid, construction here is key to meeting the growing demand for housing. The guilt embargo recognized the importance of rehabilitation cumplir con los objetivos de sustainability and energy efficiency de cara a 2050, que requiem que el parque real estate available marine repair.
Luis Losantos, CFO of Geswaltalso intervened in this question, affirming that the lack of fiscal incentives for rehabilitation and saving limits access to housing, especially for those looking for their first property. The director emphasized this The fiscal system should be revised Facilitator for Viviendas, promoviendo medidas que incentivev el ahorro y, en el caso de la vivienda favorable, ayudas specifications para quienes necessitan acceder al mercado realestate for the first time.
Future forecasting and the role of alternative financing
The conversation ended with an optimistic assessment of the future of the alternative financing sector.
Jorge González-Iglesias Baeza predicted that in the next five years la financial alternative, complementary or keyincreasing market share from the current 10-15% to 30-40%, especially in projects where the traditional bank finds limits in risk-taking due to strict regulation.
According to González-Iglesias, although private financiers are not currently as popular as traditional banks, ofren vantageas que meriten ser exploradas: faster approval, less stringent requirements and flexibility in risk management. Estas cualidades están impulsando su crecimiento y consolidación como una tool que contribution dynamizer ve la vivienda sector que, aunque aunque a la vivienda, aunque aunque adicionales, adicionales of capital.
Asier Uriarte reaffirmed The importance of destigmatizing alternative financing y verla como una herramienta completaria, nocomo compensia de la banca. Uriarte explained that as the market and promoters better understand the function of alternative financing, it will pave the way for projects that require more flexible risk management. greater adaptation to the requirements of the actual real estate sector.
Henry Gallego noted, sin embargo, que Legal certainty and regulatory stability will be essential It is allowed to configure this model for an alternative financial controller. Para Gallego is fundamental to existence un marco regulatoryyo stable que permit la financia alternativea complementar a la banca y no solo assumar los proyectos que esta descarta.