The dynamics of sales and purchases led to the decreasing of the affordable housing stock by 7% in the last quarter of 2021. Idealista, one of the leading real estate companies in Southern Europe, analyzed the situation in comparison with the same period in 2019.
In Spain the supply of affordable housing units was lower by 2% during the last quarter of 2021 compared with the same period in 2020. In Madrid the supply decreased by 11% over the past 12 months, while in Barcelona the decline was 2%.
Teruel, Santander and Pamplona have the highest rates of supply reduction. Now most of Spain's provincial capitals have fewer properties for sale than before the pandemic. The decline is 40% in Teruel and more than 30% in Santander (-35%), Pamplona (-32%), Zaragoza (-30%) and Cuenca (-30%). They are followed by Salamanca (-27%), Melilla (-27%), Guadalajara (-26%) and Segovia (-25%). The sales market dropped by 17% in Madrid, while this rate was only 5% in Barcelona.
There is a flipside to the process. In Caceres, the amount of available real estates for sale increased by 41%. It is followed by Granada (36%), Jaen (32%), Huesca (14%), Ourense (10%), Palma (8%), Palencia (7%), Leon (6%), Tarragona (6%) and Logrono (3%).
If we analyze the changes over the last year, Santander leads the ranking of the properties offers’ reduction by 28%. It is followed by Teruel (-27%), Soria (-27%), Zaragoza (-26%), Cuenca (-25%), Pamplona and Albacete (-23% in both cases). In 2021the decline was -11% in Madrid and -2% in Barcelona. On the other hand, the highest growth was in León (19%), Granada (13%) and Girona (11%).
The situation was similar at the provincial level since the pandemic start. Huesca, Guadalajara and Toledo provinces are the leaders with 33% declines in offer, followed by Zaragoza and Navarra (-30% for both provinces). The highest growth was in Jaén (23%), Alicante (22%) and Cáceres (20%).
Over the past year the leaders among the provinces with the largest decline in real estate sales were Huesca (-27%) and Zaragoza (-23%). They are followed by Gipuzkoa, Guadalajara and Cuenca (-19% in all three provinces), Cantabria (-18%), Albacete and Navarre (-17% for both provinces). On the other hand, the highest growth was in Alicante (22%), Malaga (13%) and Santa Cruz de Tenerife (9%).