MADRID, 1 Nov. (EUROPA PRESS) -
The company Gradual Homes seeks to promote the rental of homes with the right to purchase in Spain, a formula little implemented until now, as a way of facilitating access to housing in the current context of rising property prices for rent and in sale.
According to the Gradual Homes business model, the tenant can choose the house they want for the entity to acquire. The idea is that you live in it on a rental basis and agree with the investor owner on the subsequent purchase following a predetermined scheme.
Gradual Homes, whose model is the result of the experience of the Rento company, belonging to the Pryconsa Group, offers clients to acquire the property from the beginning of the fourth year until a maximum of seven years have elapsed.
The interested party contributes an initial amount of 5% of the price of the house and, during the rental period, will also have the option of making other additional contributions each year that will form part of the price of the house and that will allow them to save up to 30% of rental income paid for future purchase.
The objective, as explained by Gradual Homes in a press release, is that the tenant can achieve sufficient savings and a more comfortable financial position to be able to acquire the home at a price previously established at the beginning of their contract, through a scheme traditional financing.
The company maintains that renting with the right to purchase is one of the main solutions to the difficulty of access to housing presented by the real estate sector, especially for young people and in large capitals.
At the high prices of real estate, both for sale --with an average cost at the national level of 1,957 euros per square meter in the second quarter, 7.4% more than a year ago, according to the College of Registrars-- As in rent, with growth of around 4% year-on-year, labor uncertainty and inflation rates of 8.9% in September compared to prices a year ago are added.
Gradual Homes has indicated that, in these circumstances, more and more people want to buy a home but do not have savings equivalent to 20% of its value, which is the amount that is usually needed before applying for a mortgage. traditional, to which taxes and other expenses must be added.
According to data from studies related to the 'millennial' generation managed by the entity, 82% of this population prefers to buy to rent, but many cannot do so for the reasons already mentioned.
Faced with this situation, Gradual Homes highlights the advantages offered by its model and which, as it has pointed out, make it possible for people who otherwise would not be able to due to lack of savings to have access to a home. In addition to buying the house chosen by the client among all those available on the market, instead of offering a closed showcase, it requires a lower down payment and that allows clients to access higher value homes with better characteristics.
It has also highlighted that the lease can be extended for seven years; that the tenant can enjoy the home as if he were the owner, but without the obligations that this would entail; that he doesn't have to deal with sudden rent hikes; and that the purchase price is fixed at the beginning of the contract.
Currently, Gradual Homes operates mainly with second-hand flats --although it is also possible to deal with new builds already built-- from the capital of Madrid and neighboring towns in the Community of Madrid. Its price must be between 100,000 euros and 450,000 euros.
The company expects to obtain a hundred annual contracts for the next financial year and expand its business outside the Community of Madrid. For this, it has financing thanks to the contribution of 20 million euros from two institutional investors.
