The year has started with new vigor for the real estate sector. The sale and purchase of homes in Spain has put an end to 13 consecutive months of declines, and according to data from the National Institute of Statistics (INE), a total of 52,796 transactions were registered in February, 5.8% more than in the same month 2023. And so far this year (January and February), operations have risen 1.6%.
Regarding prices, the latest data published by idealista corresponding to the month of March, the average price of used housing for sale has risen 7% year-on-year in March , to settle at 2,079 euros/m2. According to idealista spokesperson, Francisco Iñareta, the available supply continues to fall sharply in the main markets, which makes a strong growth in the number of operations impossible and suggests an increase in market tensions that would lead to a greater increase in prices. .
Financial entities, appraisers and the main servicers in the real estate sector have recently published their forecasts for housing this year.
For Caixabank Research, ” the real estate sector will go from strength to strength this year and will return to the expansionary stage in 2025,” according to Judit Montoriol, lead economist at CaixaBank Research
Bankinter estimates that housing prices will rise on average in Spain by 1.5% this year and another 2% next year.
Solvia’s fourth market study warns that housing prices will rise between 2% and 3% in 2024
The Gloval appraiser has also joined the forecasts for the residential market in 2024. They expect a new increase in housing prices, although slightly lower than that experienced in 2023, as long as economic conditions are maintained.
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