Is there a deficit of housing for sale in large Spanish cities?
The recent increase in property sales has led to a 4% decrease in items available for sale in capitals of provinces in Spain. What does it mean for buyers? Let’s find out.
he increase in property sales in recent quarters has led to a 4% annual reduction in the available stock in the provincial capitals, although there are also cities in which it has increased.
This is according to the latest study published by idealista, which shows that the supply has gone from almost 196,000 homes for sale in September last year to the current 187,000. In other words, there are currently around 9,000 fewer properties on the market and this "could lead to tensions in the price in the medium term", adds the report.
As is usual in the Spanish property market, the pattern is not the same in all capitals. In fact, in 14 of them the available housing stock has increased in the last year, while in 37 it has decreased.
The biggest increase was registered in the autonomous city of Ceuta, where buyers have 19% more supply to choose from (with 279 homes for sale). It was followed by Ourense (16%), León (15%) and Córdoba (13%). With increases of 10% or more: Jaén (12%), Girona (10%), Palencia (10%) and Cáceres (10%).
This is according to the latest study published by idealista, which shows that the supply has gone from almost 196,000 homes for sale in September last year to the current 187,000. In other words, there are currently around 9,000 fewer properties on the market and this "could lead to tensions in the price in the medium term", adds the report.
As is usual in the Spanish property market, the pattern is not the same in all capitals. In fact, in 14 of them the available housing stock has increased in the last year, while in 37 it has decreased.
The biggest increase was registered in the autonomous city of Ceuta, where buyers have 19% more supply to choose from (with 279 homes for sale). It was followed by Ourense (16%), León (15%) and Córdoba (13%). With increases of 10% or more: Jaén (12%), Girona (10%), Palencia (10%) and Cáceres (10%).
The greatest reduction in supply, and therefore where the tension can grow the most, has been recorded in Pamplona, where available housing has been reduced by 28% in the last year (to 762 items), followed by the city of Soria (-24%), Santander (-23%), San Sebastian (-22%), Teruel (-22%) and Zaragoza (-22%). The reduction in supply was also significant in Guadalajara (-19%), Lleida (-18%) and Castellón de la Plana (-16%).
Among the large markets, Madrid and Valencia have shown the greatest drop in product, with both cities sharing a decline of 11%. Specifically, in Madrid there are 24,664 homes for sale and in Valencia, 10,913.
In Seville, the stock has fallen by 6%, while in Malaga it has fallen by 5%, in Bilbao – by 2%.
On the other hand, Barcelona is the only major market in which there are 7% more homes for sale now than a year ago. The supply has risen from 17,956 items to 19,293 in the last twelve months.
Among the large markets, Madrid and Valencia have shown the greatest drop in product, with both cities sharing a decline of 11%. Specifically, in Madrid there are 24,664 homes for sale and in Valencia, 10,913.
In Seville, the stock has fallen by 6%, while in Malaga it has fallen by 5%, in Bilbao – by 2%.
On the other hand, Barcelona is the only major market in which there are 7% more homes for sale now than a year ago. The supply has risen from 17,956 items to 19,293 in the last twelve months.
Where is the greatest supply?
In absolute terms, Madrid is the provincial capital with the most second-hand homes for sale (24,664), followed by Barcelona (19,2939), Valencia (10,913), Alicante (9,476), Palma de Mallorca (8,754) and Cordoba (8,595). These cities are followed by Granada (7,106), Murcia (7,059), Malaga (7,058), Seville (5,838) and Oviedo (5,215).
Source:https://www.expansion.com/inmobiliario/mercado/2021/09/21/614999dfe5fdeab57b8b462d.html
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