New trends in the real estate sector
September 27, 2018
The agencies and our clients are very aware of the most influential trends in the real estate sector. Not in vain, they end up affecting our interests. It is worth knowing them first-hand, which facilitates reaching favorable agreements for all parties.
Below, we explain the keys to the rental market in Spain. Take note.
Increase interest in rentals in our country
Spain has historically been a country of owners. The rent, therefore, was not the preferred residence option for citizens. These made a residual use of it, linked to specific work or tourism needs.
However, this formula of residence is gaining ground in Spain for various reasons. One of them is the economic crisis that began in 2008 and impeded access to housing in property to many people. Or the influence of the greater preference of the community neighbors for the rent. Between the first year of the crisis and 2016, it has gone from 19.8 to 22% of rented homes.
The parallel increase in prices
For this information to be complete, we will analyze the rise in the prices of rents in perspective. These marked minimums in 2014, but we can point out that in 2017 they had already increased by 25%.
On the other hand, this increase has not been uniform in all sites. Bear in mind that the highest increases have occurred in the historic centers of major capitals. They stand out, for example, those that have occurred in Barcelona and Madrid. Upgrades of 6.6 and 9%, respectively. And, in the last four years, rental prices rose in the Balearics by 50%.
In short, a change of trend in the Spanish real estate sector in favor of rent, although still far from 50% German.