According to the report of the National Institute of Statistics of Spain (INE), published on Friday, in 2021, average prices for residential real estate increased by 3.7%.
INE experts paid special attention to the fact that the prices of new properties that have just entered the market have increased by 4.6%. This is the lowest price increase since 2014. Secondary real estate market prices increased by 3.6%.
Market experts believe that the residential real estate sector in Spain is in a fairly balanced, balanced state. There is a moderate but stable growth of the market, including an increase in the construction of new facilities.
Unlike the extreme growth of the real estate sector experienced by other world leaders of this market, the situation in Spain has a positive impact not only on the economy, but also on the social sphere.
The market does not become exclusive for super-rich investors and buyers, but allows a large number of different categories of people to buy and sell real estate.
In general, market activity should stabilize by the end of 2022. It is expected that the number of transactions will reach 550,000, and about 100,000 new residential properties will be put on the market.
Besides, according to INE, the highest housing sales figures were recorded in major Spanish cities and popular tourist areas. The cities are smaller, the suburbs and the province did not show the same high rates.
It was also cautioned that the key factor of price changes in the market will be the prices of raw materials and building materials. This is followed by the amount of inflation in the economy. At the moment, inflation is rising due to an increase in the cost of energy resources.