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Housing demand will be restricted by the increase in interest rates and new housing production will remain at similar levels to 2019. Unlike in other countries, there are no price imbalances and the moderation in growth will come mainly from used housing.
Going forward, the real estate market will be exposed to factors that will put negative pressure on demand. For example, interest rates are expected to continue rising and the 12-month Euribor is expected to stabilize above 4% and remain there for much of 2023 and 2024.
Housing sales will slow in 2023 due to slower economic growth, rising interest rates and a reduction in savings accumulated in the pandemic. The shortage of supply will make the contraction of permits less intense and the price will remain stag…
Real estate market is starting to feel the economic slowdown and the rise in interest rates. This context justifies a contraction in sales in 2023, despite which the level will remain high. Housing starts will stagnate in 2023 and the nominal p…
After the COVID-19 crisis, construction rebounded and drove the economic recovery, but this dynamism was not replicated in the real estate market. The macroeconomic context makes access to housing more difficult. Due to the new demands, the off…
Young Spaniards emancipate at the age of 30, about three years later than the European average. One of the main reasons for this delay is related to the difficulty of accessing housing at a reduced cost and in a location that meets the preferences of recent graduates.
In the coming months, the real estate sector will be conditioned by the downward revision of economic growth, the war in Ukraine, the shortage and high inflation of construction materials, the foreseeable rise in interest rates and the persistence of regulatory uncertainty.
During the confinement, families spent more time at home, which in some cases awakened the need, or the desire, to have a larger house to make day-to-day life at home easier and, who knows, to be prepared for similar eventualities in the future…
The COVID-19 pandemic caused the real estate market to collapse and led to a substantial change in the interests of the different players. Although housing prices fell significantly, demand is still very weak.
Housing sales fell more in the Canary Islands than the Spanish average and have not recovered to their pre-pandemic level. The main reason is the reduction in foreign purchases, whose weight fell below 30% in the first 9 months of 2020. Meanwhi…
Despite the fall in GDP in 2H20 (-9.0% YoY), housing sales rose by 2.4% and mortgages by 5.1%. However, many of the factors supporting sales may be temporary. Towards the second half of the year, the sector could show a vigorous recovery. Its fundamentals are solid.
The sale of homes and the signing of permits suffered a notable correction during the months of confinement. This resulted in a drop in residential prices in 2Q20 and 3Q20, the first time since 2015. The correction could continue in 2021, although a recovery is possible towards the second half of the year.
