Noemí Hernández Merchán. Abogada Asociada.
La respuesta, desde nuestro punto de vista, es sí.
Tras la crisis económica, el sistema financiero ha tenido que reestructurarse transformando con ello el modelo tradicional de vivienda que ha existido en nuestro país.
Los fondos de inversión han contribuido a la reforma financiera, ya que han adquirido a precios muy reducidos la mayor parte de los solares y las viviendas que han venido siendo adjudicados a las entidades bancarias y financieras a lo largo de estos últimos años. Esos solares y viviendas son los que comenzaron a denominarse y se siguen considerando “activos tóxicos”, ya que el valor real de los mismos era mucho menor que la cuantía del préstamo hipotecario inicialmente concedido al comprador para su adquisición.
Una de las actividades fundamentales de los fondos de inversión consiste en comprar esos “activos tóxicos” a las entidades bancarias y financieras a un precio bajo y venderlos a terceros a un precio que, ahora sí, coincide con el valor real de los mismos y que nada tiene que ver con los precios de venta que existían antes de la crisis económica e inmobiliaria.
Los fondos de inversión se han convertido, por lo tanto, en una pieza importante en la recuperación económica, al encargarse de sanear y limpiar esos “activos tóxicos” que, como se ha dicho, una vez adquiridos a los bancos y a las entidades financieras son puestos de nuevo en el mercado. Hay activos que directamente se ponen a la venta a un precio real de mercado para que sean adquiridos por terceros, que son los que van a llevar a cabo la actividad de promoción y construcción, y hay otros activos que son gestionados por los propios fondos de inversión asumiendo éstos dichas actividades. Esto supone, entre otros extremos, la reactivación de todo el sector de la construcción y de todas las actividades ligadas a este sector, y que no puede negarse que es uno de los pilares fundamentales de nuestra economía.
Para comprender la importancia e influencia de los fondos de inversión en la reactivación de la economía de nuestro país, basta señalar que, en apenas dos o tres años, estos fondos han invertido miles de millones de euros en la compra de “activos tóxicos”; así por ejemplo el fondo de inversión AZORA, de propiedad española, que opera bajo la denominación de Hispania Activos Inmobiliarios gestiona aproximadamente tres mil millones de euros en activos, controlando además diferentes fondos destinados a la compra, gestión y venta de bienes inmuebles.
Por último indicar que la actividad de los fondos de inversión está introduciendo un cambio en la forma en la que se disfruta de la vivienda, fomentando el régimen de alquiler o arrendamiento.
Así, en el escenario actual en el que nos encontramos, en el que concurre una clara disminución del poder adquisitivo con una política restrictiva en la concesión de créditos y una evidente precariedad en la contratación laboral, el alquiler se dibuja como la única posibilidad que tiene gran parte de la población para poder acceder a una vivienda.
Los fondos de inversión, conocedores de esta situación, están ofreciendo en arrendamiento muchas de las viviendas que han adquirido, contando para ello además con la ayuda de las diferentes Administraciones Públicas que ya han puesto en marcha una política destinada a potenciar el mercado del alquiler a través de la concesión de ayudas y subvenciones.
Por todo lo expuesto, debe concluirse que los fondos de inversión están contribuyendo de manera positiva en la reactivación del mercado inmobiliario y de la economía.
Fotografía unsplash.com
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