Servihabitat Trends, la plataforma de investigación y análisis de mercado impulsada desde Servihabitat, realiza una serie de informes con el objetivo de compartir con el entorno una profunda visión sobre el sector financiero-inmobiliario y analizar las principales claves de su evolución y las tendencias de futuro.
Os invitamos a descubrir las principales conclusiones de los estudios desarrollados desde la plataforma.
5 December 2016
“Residential Market in Spain”
The third edition of the study “Residential Market in Spain” provides both an exhaustive overview of the status of the residential market at the end of 2016 and a forecast for 2017.
The report reveals that the sector has consolidated its growth in 2016, as expected late last year, in spite of at three different speeds. In 2017, the market will continue to pick up gradually. The main conclusions are:
The volume of residential transactions increased by 26% in 2016 and this trend is expected to continue over the coming year, with a year-on-year growth of more than 12% to 500,000 units sold.
The new construction stock continues to show an approximately 20% year-on-year shrink, although not consistently, both this year and in 2017. At the end of 2016, this will number 388,000 homes.
One of the other indicators that confirm the positive market evolution is the moderate increase in housing prices, which in 2016 is 4.6% more than the previous year, and in 2017 will rise about 4.3%.
The rental market has consolidated itself, with an expected increase in the number of rental transactions as compared to residential transactions. The average gross yield is 5.4% in 2016 for rental homes in Spain.
Lastly, foreign buyers have increased their activity in the Spanish residential market, as the total number of transactions carried out in Spain by buyers with this profile until the month of June this year is 18.4% more than during the same period in 2015.
At Servihabitat, we share the latest news on the evolution of the real estate industry in Spain, thanks to the collaboration of our Network of partner agents (APIs) and the support of the Institute of Business Practice (IPE) and its Real Estate Chair.
This report takes the pulse of the evolution in this sector and shows the considerable growth that it has experienced in recent years. Drawn up from information from official sources, figures from the portfolio of rental properties managed by Servihabitat and the leading real estate portals, the study highlights the outstanding opportunity to consolidate rentals in Spain, which serves as an incentive for new owners of rental homes to enter the market.
The study analyses the structural changes that the sector is experiencing in Spain, with an increase in the number of households living in rentals from 9.5% in 2005 to 13.1% in 2015. The most important indicators include:
Of the more than 18.3 million primary homes in Spain in 2015, 22.7%, or almost 4.2 million, were occupied by renters.
The profile of the rental home in Spain is: multi-family, measuring less than 90sqm and made up of single-parent families, that is, by an adult with dependent children.
According to 13.9% of Servihabitat’s Network of partner agents (APIs), most of their rental operations are with foreigners, particularly Moroccans, followed by British and Romanians.
There are 114,500 rental homes on the Spanish market, which accounts for 10.4% of the total supply of real estate for sale. This volume is a scant 0.4% of the estimated housing stock in 2015 and means 2.5 homes for rent per 1,000 inhabitants or the equivalent of 6.2 rental properties for every 1,000 households.
The average price of homes for rent measuring between 80 and 90sqm in Spain is €540, and 2016 is expected to close with a more than 10% increase in rental prices.
The average gross profitability of home rentals in Spain is 5.4%.