Post by account_disabled on Feb 20, 2024 8:11:43 GMT -4
The rise in housing prices has been the protagonist throughout 2023. The price of used housing in Spain marked a year-on-year increase of 8.1%, up to 2,042 euros per m2, according to the latest idealista price index. . By 2024, experts expect a slowdown in prices, although this depends on the different areas of Spain.
According to the real estate expert, Eduardo Molet, there will be a slowdown in prices throughout 2024, although this depends on the different areas of Spain. “High interest rates will be one of the main culprits. “The difficulties in accessing a mortgage will continue.”
For Molet, the recent Euribor increases have a Chinese Student Phone Number List delayed effect of 1 to 2 years on housing prices. “Although the Euribor may decrease in 2024, its effects on prices will not be reflected in 2024.”
For his part, Iñaki Unsain , Real Estate Personal Shopper, does not believe that moderate growth in housing prices will be maintained by 2024. “We won't see the price of second-hand housing skyrocket, but we won't see it going down much less either. We will have a trend of increasing prices along the line that the CPI is marking.”
Analyzing the trends of 2024, Lorena Andrea Zenklussen , CEO of Compracasa Spain, explains that, although it seems that the drop in trading volume is a sufficient reference to risk a drop in prices, the market is strong in this regard and from Compracasa They do not foresee falls, at least moderate, in that sense.
Miguel Ángel Gómez Huecas , president of FADEI, Federation of Associations of Real Estate Companies (FADEI), believes that in some areas prices are too high and should drop by at least 10%. Now, the employers' association expects that they will rise between 1% and 3%, which makes it very difficult for a significant part of the population to buy a home in some towns. “Banks are granting mortgages for 80% of the value of the home, amounts that are insufficient for the majority of potential buyers,” according to Gómez Huecas.
At BBVA Research they analyze housing prices and indicate that expectations predict that they will continue to grow in the current biennium. Although they point out that, in real terms, it is possible that the growth rate may still remain negative, given the inflation levels expected in 2023 and 2024.
Emiliano Bermúdez , deputy general director of donpiso, speaks of a downward trend. He predicts that the average house price will fall by 5% year-on-year in 2024. “The main cause is the sharp drop in demand for the purchase of homes that will be registered in the first half of the year.”
The factors that influence the rise and fall of prices
Real estate expert Eduardo Molet refers to the new housing law, which is sure to be developed, "with the legal uncertainty it entails and the decline in home purchases by foreigners that is declining." He also states that national political uncertainty will play a role.
According to the real estate expert, Eduardo Molet, there will be a slowdown in prices throughout 2024, although this depends on the different areas of Spain. “High interest rates will be one of the main culprits. “The difficulties in accessing a mortgage will continue.”
For Molet, the recent Euribor increases have a Chinese Student Phone Number List delayed effect of 1 to 2 years on housing prices. “Although the Euribor may decrease in 2024, its effects on prices will not be reflected in 2024.”
For his part, Iñaki Unsain , Real Estate Personal Shopper, does not believe that moderate growth in housing prices will be maintained by 2024. “We won't see the price of second-hand housing skyrocket, but we won't see it going down much less either. We will have a trend of increasing prices along the line that the CPI is marking.”
Analyzing the trends of 2024, Lorena Andrea Zenklussen , CEO of Compracasa Spain, explains that, although it seems that the drop in trading volume is a sufficient reference to risk a drop in prices, the market is strong in this regard and from Compracasa They do not foresee falls, at least moderate, in that sense.
Miguel Ángel Gómez Huecas , president of FADEI, Federation of Associations of Real Estate Companies (FADEI), believes that in some areas prices are too high and should drop by at least 10%. Now, the employers' association expects that they will rise between 1% and 3%, which makes it very difficult for a significant part of the population to buy a home in some towns. “Banks are granting mortgages for 80% of the value of the home, amounts that are insufficient for the majority of potential buyers,” according to Gómez Huecas.
At BBVA Research they analyze housing prices and indicate that expectations predict that they will continue to grow in the current biennium. Although they point out that, in real terms, it is possible that the growth rate may still remain negative, given the inflation levels expected in 2023 and 2024.
Emiliano Bermúdez , deputy general director of donpiso, speaks of a downward trend. He predicts that the average house price will fall by 5% year-on-year in 2024. “The main cause is the sharp drop in demand for the purchase of homes that will be registered in the first half of the year.”
The factors that influence the rise and fall of prices
Real estate expert Eduardo Molet refers to the new housing law, which is sure to be developed, "with the legal uncertainty it entails and the decline in home purchases by foreigners that is declining." He also states that national political uncertainty will play a role.