Post by account_disabled on Feb 22, 2024 6:45:36 GMT -5
With the end of 2023 just around the corner, the International Federation of Real Estate Professions (FIABCI) has prepared its forecasts for 2024, in which it believes that the real estate sector will stabilize without symptoms of alarm.
In large cities, prices will remain stable due to high Job Seekers Phone Numbers List demand, although in Spain as a whole they will drop by around 2%. This year's drop in operations, which is around 20%, will maintain a downward trend in business volume. Furthermore, the lower economic capacity will mean that the operations will have a lower amount, as pointed out by the treasurer of FIABCI, Anna Puigdevall .
Likewise, it foresees that sales will decrease , as they have already begun to do in 2023. This will occur, above all, throughout the first half of the year, after which they will begin to recover when interest rates begin to be lowered.
It is precisely the increase in the cost of financing that has meant that part of society is unable to buy a home. Therefore, interest rates will have a great influence on these forecasts by making it difficult for middle-class families to access mortgages.
Rentals do not seem to be in a better situation, since large cities have little supply for the amount of demand , especially from those people who cannot get a mortgage. A counterproductive Housing Law and greater control of the solvency of tenants mean that Puigdevall does not believe that this situation will improve for the most vulnerable groups.
As for the rental price , this will depend on the area in which the home is located and whether it is considered stressed or not. In the event that it is a stressed area, prices are not expected to rise, but supply is expected to fall and, therefore, the difficulty of obtaining a home will increase. Likewise, large cities will see their prices continue to rise, while non-stressed areas will evolve stably depending on supply and demand.
In large cities, prices will remain stable due to high Job Seekers Phone Numbers List demand, although in Spain as a whole they will drop by around 2%. This year's drop in operations, which is around 20%, will maintain a downward trend in business volume. Furthermore, the lower economic capacity will mean that the operations will have a lower amount, as pointed out by the treasurer of FIABCI, Anna Puigdevall .
Likewise, it foresees that sales will decrease , as they have already begun to do in 2023. This will occur, above all, throughout the first half of the year, after which they will begin to recover when interest rates begin to be lowered.
It is precisely the increase in the cost of financing that has meant that part of society is unable to buy a home. Therefore, interest rates will have a great influence on these forecasts by making it difficult for middle-class families to access mortgages.
Rentals do not seem to be in a better situation, since large cities have little supply for the amount of demand , especially from those people who cannot get a mortgage. A counterproductive Housing Law and greater control of the solvency of tenants mean that Puigdevall does not believe that this situation will improve for the most vulnerable groups.
As for the rental price , this will depend on the area in which the home is located and whether it is considered stressed or not. In the event that it is a stressed area, prices are not expected to rise, but supply is expected to fall and, therefore, the difficulty of obtaining a home will increase. Likewise, large cities will see their prices continue to rise, while non-stressed areas will evolve stably depending on supply and demand.