Servihabitat Trends

Servihabitat Trends, the research and market analysis platform spearheaded by Servihabitat, draws up a series of reports with the goal of sharing with its partners an in-depth picture of the financial-real estate sector and analysing the keys to its evolution and future trends.

We invite you to learn about the main conclusions of the studies developed by the platform.

11 July 2017

“Residential market in Spain”

The fourth edition of the report on the “Residential market in Spain” offers a detailed overview of the real estate market at the start of 2017 as well as a forecast of how the key indicators will evolve throughout the year.

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The report states that the industry shows clear signs of recovery in 2017, in line with the moderate growth trend experienced last year, although the various micro-markets are worth analyzing in order to take the pulse of the real estate market as a whole. Some of the main conclusions are:

  • Transactions have increased by 15.2% in 2017 and more than 465,500 units are expected to be sold by the end of the year.
  • The supply of new homes continues to increase: housing starts will rise by 15.3% this year, completed homes by 20.2% and approved projects will experience 25.9% year-on-year growth.
  • New construction stock continues to be absorbed and is expected to experience a year-on-year reduction of 17.8% for a final number of 324,000 homes, although not in a uniform manner.
  • The pressure exercised by demand on the market will continue driving prices up, although moderately and not homogeneously throughout the country. In 2017, the average transaction value in Spain is expected to increase by 4.1%.
  • The rental market continues to evolve favorably, in line with key indicators. The average rental price for a home with 80 to 90 sqm of floor space in Spain is €600 and the average gross rate of return is 5.4%.
  • According to the Servihabitat Network of partner agents (APIs), 30% of vacation home transactions in Spain involved foreign buyers. In terms of primary residence purchases, this group has made 20.2% of purchases.

Servihabitat provides the latest news on the evolution of the Spanish real estate market thanks to the contributions of our Network of partner agents (APIs) and the support of the Institute of Business Practice (IPE) and its Real Estate Chair.

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31 May 2017

“Residential rental market in Spain”

The report analyzes the industry’s evolution and highlights the positive trend that it has experienced in recent years, as the key indicators are pointing out.

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It has been prepared using official sources, figures from the portfolio of rental properties managed by Servihabitat and the leading real estate portals. According to them, it is advisable to differentiate three regions: Madrid, Barcelona and their metropolitan areas, where rental prices are experiencing an upward trend and demand is sustained; cities with more than 300,000 inhabitants, with a moderate rise in activity; and all other locations, whose growth is virtually inexistent.

The report contains the factors that confirm that the growth of Spain's rental market may continue over time. These factors include: an increased geographic mobility, with greater concentrations in the heart of cities; a shortage of new homes in certain regions; limited access to credit for home purchases and the changing mentality that is taking place, primarily between younger population.

Some of the key indicators that show the evolution of this segment in the country are:

  • 22.5% of primary homes in Spain are rented: nearly 4.2 million properties.
  • The profile of a rental home in Spain is: less than 90 sqm, located in a building over 35 years old and with 10 or more homes.
  • In Spain, the average period of time from when a home is placed on the market until it is rented is just over two months, although this can be a matter of days in certain markets with strong activity as Madrid or Barcelona.
  • According to 72.1% of the Servihabitat Network of partner agents (APIs), renters in the regions where they operate are between the ages of 26 and 35 years. 27.5% of those partner agents carry out rental transactions primarily with foreigners, more than double of the figure for 2016.
  • The number of rental homes available in Spain is 106,700, resulting in 2.5 available homes for every 1,000 residents and 5.8 for every 1,000 households.
  • The average price of rental homes in Spain between 80 and 90 sqm is €600. This number is expected to increase by an average of 4% to 5% at the end of the first half of 2017.
  • The average gross profitability for a rental home in Spain is 5.4%, with Catalonia, the Community of Madrid and the Balearic Islands at the top of the list.

View the report: “Residential rental market in Spain“

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