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House Sales Will Decrease by Around 10% in 2023

The rise in interest rates and reduction in purchasing power may cause a shift in demand towards the rental market, according to Gesvalt.

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The volume of house sales will fall by around 10% in 2023 due to the increase in interest rates and a decrease in people’s purchasing power, as reported by the appraisal firm and real estate consultant Gesvalt, which has published a trend report about the real estate sector.

“This phenomenon, which will also result in the stabilisation of house prices, and which could even cause a slight decrease in prices during the final months of the year, will likely lead to a shift in demand towards the rental market,” say sources at the appraisal firm.

Read the full article in Spanish.


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