Norbolsa | According to a panel of experts in the sector, in 2023 it is expected that, house prices will advance, albeit timidly, by around 0.5%, compared to last year’s 6%. Sales, meanwhile, after an impressive 2022 (650,000 operations, levels not seen since 2007), will fall by 14%, to 557,000. The housing market has to face higher interest rates, economic slowdown, higher construction costs and a weaker labour market, but will still be supported by the scarce supply of new construction. In renting, the shift from buying to renting will continue, so the average rental price in Spain is still expected to increase by 4.4% in 2023 as opposed to the 6.5% rise seen in 2022.
Timid 0,5% rise in house prices in 2023 expected in Spain, lower than 2022 6% increase
