Timid 0,5% rise in house prices in 2023 expected in Spain, lower than 2022 6% increase

Rising house prices is a common phenomenon in many countries

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.

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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.