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Several indicators show that construction is facing a labor shortage problem. Moreover, the average age of workers has increased significantly in recent years and their level of training is relatively low. The sector must react in order to face a generational replacement sooner rather than later.
The residential market is in a process of adjusting sales due to rising interest rates and the slowdown in neighboring economies, yet the level of sales remains relatively high. Nevertheless, housing prices continue to grow as a result of the shortage of supply.
In recent months, the country’s real estate market has not been performing as one might expect, in the sense that house prices are not receding as sales decline.
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…
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.
Some 675,000 homes were sold in Spain in 2021, 38.1% more than in 2020, and well above the level of 2019, before the outbreak of the pandemic. Sales regained the pre-pandemic level in the summer of 2020 and have maintained a robust growth trend since then.
