Public housing construction in Spain falls by 86% compared to 2006 historical record, 80,000 homes built per year on average

housing overvalued

Alphavalue / Divacons| The percentage of household income needed to buy a home rose to 21% over the last year, according to a study published by the portal Idealista based on 3Q23 data. The real estate platform also highlights that the percentage of household income needed to rent a home grew to 31%. On the other hand, the construction of public housing has fallen by 86% in Spain compared to the historical maximum recorded in 2006, with 80,000 homes built on average per year, which means that the country needs 761,000 new homes for affordable rentals over the next 10 years.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.