Sales and rentals on the Costa Blanca, Costa Calida and Costa Del Sol
NEWS
PROPERTY PRICES IN SPAIN CONTINUE TO RISE
8th November 2024
Gonzalo Bernardos, professor of economics at the University of Barcelona and a well-known commentator in media such as RAC 1 and La Sexta, expects about 825,000 homes to be sold in Spain by 2025, similar to 2007 figures. Only 10% of these will be new builds. Despite these high numbers, there will be no property bubble as banks remain cautious. In August, the number of residential mortgages increased by 8.8%, and this trend continues.
Bernardos predicts favourable times for sales of existing homes, with prices continuing to rise, even above 10%. By 2024, prices were already up 14.65% due to high demand from 1.5 million households, preventing price drops. Banks will even offer solvent buyers up to 100% financing, often with parental guarantee. Meanwhile, Coapi vice-president Ángel Martínez León complained about the government's lack of housing policies to solve the housing shortage.
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