Riesgos inmobiliarios económicos-sociodemográficos y rentabilidad de los activos inmobiliarios

Abstract

The real estate sector has been particularly vulnerable in recent times to different types of factors that can compromise the viability of real estate businesses. Following project management terminology, real estate risks are factors that can affect the objective of projects in this sector, which is generally to provide profitability. Real estate risks are of a diverse nature, a part of them only affect the asset object of investment, for example, a buildable area that is not in accordance with demand. Another types of real estate risks are those that affect all the assets of a certain geographical context. Here are different economic and sociodemographic systemic factors such as the labor market, the level of income in the environment or economic growth. This paper analyses the relationship that exists over time between the evolution of different systemic risks and the evolution of the price of real estate assets, the latter considered as a measure of the revaluation or profitability of the assets. This makes it possible to identify factors that contribute to early warning of adverse behaviour of real estate as an investment. This work is developed in the territorial context of the urban area of the municipality of Seville. © 2023 by The authors.