The real estate sector presents a differential characteristic relative to the product;it is linked to its spatial location.This particularity can give rise to different configurations of distribution channel structure...The real estate sector presents a differential characteristic relative to the product;it is linked to its spatial location.This particularity can give rise to different configurations of distribution channel structures between geographical sub-areas of the same market.Could there be different levels of concentration of these structures in response to this spatial dimension?At the same time,do the mortgages that occur through these channels present the same concentration?Has the emergence of the“pure players”transformed this concentration?The configuration and its flows between 2004 and 2019 are analysed.The exploratory analysis and the Herfindahl-Hirschman Index(HHI)when applied to the volume of mortgages,the number of housing marketing companies,and the online platforms“pure players”establish the level of concentration existing in Spain as a whole and also for each community.In general terms,with respect to housing and mortgage companies,Spain has low levels of concentration.Looking specifically at the index by community,it is clear that this distribution of mortgages is not equal.Likewise,the concentration and evolution of the distribution channel is similar to the behaviour of transactions;it presents a low level.Conversely,online housing distribution platforms“Pureplayers”do experience a high level of spatial concentration.The Spanish real estate market has low concentrations of mortgages and in the structure of distribution channels.Conversely,the Mediterranean arch and Madrid concentrate to a greater extent mortgages continuously during the years analysed.The Pureplayers present a high level of concentration.Seventy-nine percent of the activity is concentrated in Madrid and Catalonia,and with Andalusia and the Valencian Community,they represent 100%of the companies.After the real estate crisis,the concentration was softened by the appearance of new companies and the increase in mortgages.The crisis reduced this concentration of“pure players”but favored the concentration in two communities.展开更多
文摘The real estate sector presents a differential characteristic relative to the product;it is linked to its spatial location.This particularity can give rise to different configurations of distribution channel structures between geographical sub-areas of the same market.Could there be different levels of concentration of these structures in response to this spatial dimension?At the same time,do the mortgages that occur through these channels present the same concentration?Has the emergence of the“pure players”transformed this concentration?The configuration and its flows between 2004 and 2019 are analysed.The exploratory analysis and the Herfindahl-Hirschman Index(HHI)when applied to the volume of mortgages,the number of housing marketing companies,and the online platforms“pure players”establish the level of concentration existing in Spain as a whole and also for each community.In general terms,with respect to housing and mortgage companies,Spain has low levels of concentration.Looking specifically at the index by community,it is clear that this distribution of mortgages is not equal.Likewise,the concentration and evolution of the distribution channel is similar to the behaviour of transactions;it presents a low level.Conversely,online housing distribution platforms“Pureplayers”do experience a high level of spatial concentration.The Spanish real estate market has low concentrations of mortgages and in the structure of distribution channels.Conversely,the Mediterranean arch and Madrid concentrate to a greater extent mortgages continuously during the years analysed.The Pureplayers present a high level of concentration.Seventy-nine percent of the activity is concentrated in Madrid and Catalonia,and with Andalusia and the Valencian Community,they represent 100%of the companies.After the real estate crisis,the concentration was softened by the appearance of new companies and the increase in mortgages.The crisis reduced this concentration of“pure players”but favored the concentration in two communities.
