In the midst of a national crisis over housing prices, the Government seems to have found the solution. The PSOE has registered a legal reform in Congress with which it seeks power granting mortgages to industrially built homes. This housing system consists of the components that are part of the building being manufactured industrially in a place other than the work, and then they are moved to it to be assembled and assembled.
The legal formula that the Government intends to use to ensure that these homes benefit from the mortgage regime is a amendmentspecifically the bill that creates the Independent Administrative Authority for the Defense of the Financial Client. In turn, this proposes a reform of the Mortgage Law of 1954.
According to the socialist group, one of the obstacles that citizens face regarding these homes is the financingsince under current legislation it is not possible to constitute a chattel mortgage on these modules, which are built outside the place of construction of a property.
In order to offer financing to individuals who choose this housing formula, banks have used alternative solutions to the common mortgage, such as obtaining guarantees, surety insurance or establishing a pledge without possession. To tackle the problem, the PSOE proposes modifying the article 12 of the Mortgage Lawso that a chattel mortgage can be established on “the set of mobile construction modules intended to be assembled, assembled and incorporated as a unitary building into a property.”
There are precedents for initiatives
Regarding the opinion of the opponents, it is worth remembering that the PP registered a non-law proposal in Congress in June of this year. Through this, as a measure against the housing crisis, the construction of industrialized houseswith the coordination of several public administrations. They then stated that energy expenditure, CO2 emissions, waste of materials, workplace accidents and execution times would be reduced thanks to this system.
In June it was estimated that there was a need 600,000 new homes in 2025 to balance supply and demand, and according to the Bank of Spainonly 1% of industrialized single-family homes are built in the country, which is approximately equivalent to 1,000 houses. The Building Cluster, on the other hand, estimated that they would reach 10,000 this yearas ‘Forbes’ points out, and will become 40% in 2030.
If these forecasts are met, through the new amendment proposal, Spain would follow in the footsteps of other countries such as United Kingdom, United States, France, Germany, Sweden, Denmark or Norwaycountries that have already fervently promoted the industrially manufactured housing industry to try to respond to the housing problem.
For its part, the PSOE defends in the justification of the amendment that this type of construction can reduce project times between 20 and 25%. As for costs, these can drop up to 20%, according to a study carried out by McKinsey & Company.
The report also mentions that, in a moderate penetration forecast, the market value of industrialized construction, only of new properties, could reach 130 billion dollarss in Europe and the United States until 2030. The PSOE adds that it is necessary to “make the necessary adjustments to level the ground and avoid certain obstacles to its development.”
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