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Rental Properties Flee the Market & the Supply Falls by 35% During the Final Stretch of the Year

Fotocasa has detected an imbalance between supply and demand of 13 percentage points in terms of rental properties and forecasts rental price increases of 5% in 2023.

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The year that is about to end is set to be the best for the real estate market since the swan song that was 2007 before the bubble burst. And there are several indicators to support that statement: from the number of transactions signed, to the recovery of sales and rental prices, to the signing of new mortgages (at least until the beginning of the summer, when the European Central Bank put an end to the era of negative interest rates with the single stroke of the pen (followed by a second bump in September)). In parallel, rental properties have been taken off the market in their droves, despite demand continuing to increase.

According to Fotocasa, in its first annual analysis of the sector, there has been a very pronounced contraction in the supply of rental properties, of around 35% of the total market nationwide. “The frenzy to sell, the return of tourist apartments to the holiday market and the overregulation of rental homes, have caused the rental supply to be reduced,” say sources.

Read the full article in Spanish.

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