Spain House prices and Market adjustments
Housing becomes more expensive by 1.8% in October. The average price of new and used housing shows an increase of 9.2% year-on-year in October, after increasing by 1.6% in the last month. Source: TINSA.
August: Record home sales. The economic slowdown is still not witnessed in the real estate sector. The market continues to post record numbers for home sales and fixed-rate mortgage loans.
Bankinter forecasts fall in housing prices. In its latest report on real estate sector estimates, Bankinter concludes that after 2022 with house prices still on the rise (+5% estimated), these will enter an adjustment phase with falls of -3% in 2023 and -2% in 2024 meaning there won't be a crash. In comparison with the UK and the other North European countries where financial pundits forecast house price falls of around 8 to 9% due to the impacts of inflation and the rising cost of living.
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