The transformation of the Spanish real estate market after the Financial crisis
Abstract
Evaluating and monitoring the evolution of the real estate market is important for monetary policy and for the financial stability of a country due to the strong impact it has on aggregate spending on the one hand, and on the balance sheets of the private sector, on the other. (AEC 2011). The real estate markets are in a process of transformation due to the appearance of new real estate business models linked to technology (PropTech companies), which use Big Data, Artificial Intelligence, Machine Learning, etc ... Within these, the The so-called new collaborative economies in the world of real estate are experiencing exponential growth, causing a paradigm shift in the tourism sector, with a direct impact on the purchase, sale and rental prices of residential homes, as well as on residents and in the local territorial ordering of each municipality. This present analyzes the behavior of the Spanish real estate market after the bursting of its real estate bubble (2008). It is obtained that the Spanish real estate market is in a process of transformation due to the emergence of technology, giving rise to new business models such as housing for tourism purposes. The main conclusion is that the proliferation of housing for tourist purposes that is taking place in the main Spanish cities is having a significant impact on the prices of the residential housing market.
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