2014 could be classified as a year of transition. Perhaps the expectations for growth in buildings refurbishment have not fulfilled our expectations however it is true that the foundations have been laid for a more promising future in this sector.
The funding provided for under the 2013-2016 State Plan is already in evidence in some Autonomous Communities that have already published proposals. Thanks to the steps taken by the Ministry of Public Works with the different Communities, we believe that the funding that will be made available to users during the first quarter of 2015 will be better managed and its allocation better controlled than the funding conferred under the previous Plan.
In 2014 we have also detected that the banks are starting to take some interest in granting loans for refurbishing and renovating buildings, looking into innovative formulae to be able to offer such financing. We should remember that the property owners’ associations sector is one that has shown the lowest level of payment defaults and as such, with the appropriate financing systems, loans to undertake works for these associations could represent an important stimulus for refurbishment and an interesting niche market for financial entities.
Fernando Prieto Fernández.
President of ANERR, the Spanish Association of Rehabilitation and Renovation Companies
Article published in: FuturENERGY January-February 2015