Barcelona Meeting Point opens doors with positive outlook for real estate sector
After years of economic crisis, organizers say situation is at a turning point favouring growth in the market
The 21st edition of Barcelona Meeting Point (BMP) began on Wednesday at the Fira de Barcelona, and will run until 22 October. This year’s event marked a “new stage” for the real estate and construction sector, which is at a “favourable turning point” after years of economic crisis according to the organizers.
The convention is being held within the context that the real estate sector “won’t stop growing,” as residential demand is expected to exceed 500,000 new homes throughout the rest of 2017 and 2018.
However, like many things these days, the political confrontation between the Catalan and Spanish governments was also a topic of interest at the inauguration ceremony. The Spain's Minister of Development, Íñigo de la Serna, took advantage of the event to warn how the real estate sector is “scared” due to the “legal insecurity” in Catalonia.
After the ceremony, Meritxell Borràs, Minister of Governance, Public Administrations and Housing, said that Spanish state repression is “not at all good” for the image of Catalonia. Some exhibitors went as far as admitting that investments have been delayed due to the ongoing political uncertainty, as the war of words between the Catalan and Spanish governments intensifies. However, most future investment plans have not been cancelled, they also said.
This year’s edition of BMP will focus on a panel of experts who specialize in social housing and affordable rent, and the presentation of a study by the IESE business school about how to apply innovation and technology to the real estate sector based on “proptech," as well as the role of women in the real estate sector.
It will also include a celebration of the “networking lunch” dedicated to the international market; the creation of a luxury real estate cluster; and the showcasing of architecture, design, and urbanism, among other themes.
265 companies will participate from 16 different countries, in a space of 22,000 square metres. The organizers have emphasized that this year’s event is celebrated in the context of the sector’s recovery, demonstrated by an increase of 16% per year in house purchases in August (according to the Spanish Statistical Office.) House prices throughout Spain also increased by 5.6% in the second quarter of 2017, and 32.9% more mortgages were taken out in July.