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Inflation, rising interest rates, the threat of recession, the armed conflict in Ukraine affect the global economy, but it seems that many real estate markets are avoiding this influence, for example, Spain, where housing prices and rental rates are breaking growth records. Fotocasa notes that, for example, in Madrid, the capital of Spain, residential real estate prices rose only in January by 9% year-on-year. Rental rates have increased by 8%, and Madrid is not the most expensive of the country's cities. ...

The growth of the real estate market in 2022 affected the Spanish labour market. According to the "Labour Market Survey (EPA)" for the fourth quarter of last year published by the National Institute of Statistics of Spain (INE), the employment rate in the real estate sector has reached its historic highs. According to the latest EPA, the number of people employed in this sector was 173,500, which is 18,700 more than at the end of 2021. For the first time, the number of workers in this sector exceeded 170,000. Moreover, according to...

High inflation undermined the purchasing power of the Spanish population, which hit the country's housing sector hard, as it led to a sharp increase in mortgage interest rates. Interest rates on loans have recently become a popular topic. It may seem that these events will never end, but the Dutch banking group ING proves the opposite. In its recent report, "Economic Outlook for 2023," ING points out that interest rate growth probably peaked late last year. As part of the report, the group also analysed the dynamics of the main...

The Spanish real estate market has shown impressive recovery growth since the first serious downturn of the COVID-19 pandemic in 2021. However, this stopped as suddenly as it began when the European Central Bank (ECB) abruptly changed its lending policy and began to raise the key rate regularly. This has significantly increased the prices of mortgage loans, which have become unaffordable for a wide range of real estate buyers and, as a result, slowed down the market growth over the past 12 months. ...

The second half of 2022 and early 2023 were tense in the Spanish real estate market. Back in December, housing prices rose by 5% year-on-year. The policy of the European Central Bank (ECB) provoked an increase in mortgage rates. The Idealista real estate portal has updated its rating of the 100 most expensive municipalities in Spain with the highest demand from buyers. Idealists' analysis focused on the cities where new sales announcements were published in the last four months of last year. There were over 1,300 ads, on average from...

Opposite forces are affecting the Spanish housing market. The repeated increase in interest rates led to the fact that in January the Euribor rate exceeded 3.3%. Combined with inflation of 5.8% for the same month, the Euribor rate creates a high probability of a decline in demand for housing in European markets, including Spain. The falling purchasing power of the population and the level of income do not go well with expensive mortgages. It is worth noting that the banks themselves are tightening the conditions for issuing loans to...

It is not every day that the head of Spain's largest real estate company expresses his opinion about the real estate market. Roberto Sibeira, CEO of Pontegadea, Amancio Ortega's investment company, commented on the company's future activities in Spain as follows: "We have not conducted large operations in the country for several years, although we have paid attention to small transactions. If there is a price adjustment in the future, we will first consider its timing and prospects before making decisions. We are ready to start full-scale...

The price of real estate is not formed at random and is not taken "from the ceiling", but is the result of analysis and a combination of many factors. From the average prices in the market itself and the activity of buyers to the location, size and condition of the object itself. The list of characteristics that need to be taken into account in order to choose a favorable price for a successful sale can overcome dozens of points. Therefore, it can be quite difficult to try to take all this into account, taking into account also the current...

Although the trends in the real estate market are more or less the same in different areas of Spain, the price of real estate can vary significantly. For example, the regions near the Mediterranean coast are traditionally the most expensive in the country, which becomes especially noticeable when compared with prices in the depths of the peninsula. Let's turn to the Idealista report for Q4 2022. According to the report, the ranking of the most expensive cities in Spain has not changed since the end of the third quarter (September...