The economic recovery after the COVID-19 pandemic has reduced the price bubble in the market, as developers can again build new real estate and expand supply to meet new demand in the capital of Spain — Madrid.
In addition, Leon has recorded excellent rates of new housing on the market. The number of new buildings in this region without buyers reaches 8,060 units. This is 32 more properties than it was at the end of 2020. Leon demonstrates the Spanish market’s attempts to combat the rising prices and the shortage of housing supply.
While this growth is not fundamental in Leon, it should be emphasized that 2022 interrupted the 9-year decline in the number of housing for sale in the region, which peaked in 2011.
Statistics show that between 2011 and 2020, the number of new residential properties without buyers annually decreased by 1,945 units or about 19.5%. The number of such properties does not exceed 2.4% of the total housing stock in Leon, which is more than 330,000 residential units.
However, talking about autonomous communities, for example, Castile-Leon, the number of new housing in the region has decreased this year to 30,862 units — 7% of the 448,809 unsold housing units throughout Spain. The Ministry of Transport, Mobility and Urban Planning of Spain has released these figures.
However, the data were based on various indirect methods of calculation, as well as incomplete market information, which is inevitable with this type of analysis, so even the figures are far from reality. Especially when the situation concerns the whole country. Nevertheless, the general trend is obvious.
The calculations were based on completed construction projects in the acts of architects' associations, developers, cooperatives and homeowners' associations, sales of real estate agencies and other sources, which are carefully collected by the Ministry of Transport, Mobility and Urban Planning.