The revitalisation of the residential sector from January to June means that the year is going to close on a high. With around 600,000 transactions completed in the housing market in 2022, strong demand is expected to keep pushing up the price of real estate. In the sales market, new build home prices are expected to increase by 5.5% nationwide by the end of the last quarter of 2022; whilst in the second hand segment, growth of 4.5% is forecast. That is according to the second edition of the Living Report from the consultancy CBRE, which analyses all residential formats (specifically, student residences, coliving, land, residential rental, residential for sale and Senior Living).
According to CBRE’s real estate compass, a super indicator prepared internally, the real estate sector will suffer a phase of deceleration in 2023. However, in light of the fact that house prices are expected to rise at a lower rate than household income, the average number of years that the average Spanish family would need to buy their home if they allocated their entire income to it will decrease to 7.9 years (down from 8.1 in 2022).
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