What do real estate professionals think of the Spanish property market?
The property market in Spain began to recover, which gives confidence to real estate agents with a view to the nearest months
Real estate market in Spain: buying and selling activity improved while renting stagnates at the end of 2021.
The housing market in Spain has started to recover, which gives confidence to real estate agents with a view to the near future. According to the Real Estate Sensitivity Survey (ESI), prepared by idealista, we can witness an increase in house sales and purchases and a stagnation in rentals.
The Confidence in Sales Index has risen by 2 points compared to last summer and by 20 points compared to a year ago. It now stands at 64 points, a figure close to that recorded in the pre-pandemic period (2019).
The housing market in Spain has started to recover, which gives confidence to real estate agents with a view to the near future. According to the Real Estate Sensitivity Survey (ESI), prepared by idealista, we can witness an increase in house sales and purchases and a stagnation in rentals.
The Confidence in Sales Index has risen by 2 points compared to last summer and by 20 points compared to a year ago. It now stands at 64 points, a figure close to that recorded in the pre-pandemic period (2019).
The Confidence in Sales Index has risen by 2 points compared to last summer and by 20 points compared to a year ago. It now stands at 64 points, a figure close to that recorded in the pre-pandemic period (2019).
In the case of the Rental Confidence Index, it stands at 58.2 points, 4 tenths of a point lower than in the previous quarter. Despite showing no improvement or signs of progress for the last quarter of 2021, the year-on-year figure is better than that of 2020 (46.8) and confidence is above the values recorded in the months before and after the outbreak of the pandemic.
In the case of the Rental Confidence Index, it stands at 58.2 points, 4 tenths of a point lower than in the previous quarter. Despite showing no improvement or signs of progress for the last quarter of 2021, the year-on-year figure is better than that of 2020 (46.8) and confidence is above the values recorded in the months before and after the outbreak of the pandemic.
Similar prices but increased activity
The confidence of estate agents has risen and 88% of those surveyed believe that they will maintain or even increase the purchase and sale transactions they carried out last quarter. In a context of improvement after the toughest months of the pandemic, the same percentage foresees a similar number of houses being snapped up as in the last 3 months.
As far as prices are concerned, 87% real estate agents are betting that they will remain stable, compared to 13% who expect them to fall.
As far as prices are concerned, 87% real estate agents are betting that they will remain stable, compared to 13% who expect them to fall.
Rents are stabilising while rental transactions are going down
Agencies that believe they will maintain or expand the number of rentals are 73%, while another 70% believe they will be able to obtain new properties for this market. It is necessary to observe rental trends to determine whether supply has slowed and how this will affect rental prices, which 57% believe will remain stable. The professionals who believe that rents will rise are 19%, while 16% believe that they will fall.
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