Housing

In Spain 16th January 2025

Housing Ministry leaves 60% of budget -€2.4 billion-unspent

In the 2023 electoral campaign, the President of the Government, Pedro Sánchez, committed to the construction of 184,000 homes, about which there has been no further news. Apparently, only 5.5% of those already built and pending sale in the so-called ‘bad bank,’ a result of the financial crisis, have been delivered. So this week he has intensified announcements with twelve measures (https://goo.su/dwcN2Cq ) that aim to alleviate a problem that…

In Spain 15th January 2025

New Government Housing Plan, with tax penalty for purchases by non-EU citizens

The Government is considering a special tax or a surcharge on the Transfer Tax to limit the acquisition of houses in Spain by non-resident non-EU foreigners, who mainly buy along the coast. Non-resident foreigners purchase 55,000 houses per year, compared to the 90,000 that are built. This is one of the most innovative measures of the housing plan that the President of the Government, Pedro Sánchez, announced on Monday in…

Rising house prices is a common phenomenon in many countries

In Spain 24th October 2023

Housing law sinks supply of flats for rent by 30% in five months

Housing for rent has largely vanished in recent months in both Catalonia and the Community of Madrid. The supply of flats for rent has plummeted since the Housing Law came into force five months ago by 35.32% in the case of the Madrid region and by 34.92% in the case of Catalonia, according to an analysis carried out by the National Federation of Real Estate Associations (FAI), which puts the…

Spanish economy 1st July 2023

Spain approves €2.5 billion loan facility for first-time house buyers

Bankinter Spain approves a new line of guarantees from the Official Credit Institute (ICO) of €2,500M to help young people under 35 years of age and families with dependent children without age limit with an individual income of up to €37,800 per year to pay the down payment on their first home. The guaranteeable loan may be up to 100% of the lower value between the assessment and the purchase…

Spain home sales fell 3.3% in 2019 vs yr-earlier; housing prices rose 7.2%

In Spain, Spanish economy 13th June 2023

Housing sales fall by 8% in April for third consecutive month, 43,311 transactions

According to the National Statistics Institute (INE), the sale of used housing fell by 9.0% in April at a year-on-year rate, to 35,057 transactions, in what was the biggest drop in this year-on-year rate in a month since January 2021. Meanwhile, new home sales and purchases fell by 4.2% in the month analysed, to 8,354 transactions. This variable has fallen in seven of the last eight months. Overall, housing sales…

In Spain, Spanish economy, Spanish Politics 21st April 2023

New Housing Law to cap rent rises at 2% this year and 3% next

Presented in Congress by the spokespersons of EH Bildu and ERC, the agreement on the future Housing Law maintains the 2% limit for this year on rent rises, a ceiling that will be increased to 3% in 2024 to create a new reference index applicable throughout the territory before the end of next year. The CPI will therefore be eliminated as the reference index for the annual updating of rent…

Spanish economy 28th November 2021

Spain | Economic, Social And Demographic Determinants Of Housing Demand

BBVA Research | Since 1996, the number of homes in Spain has increased, as well as their size. This Observatory studies the contribution of different socio-demographic factors such as average household size, population growth and the number of dwellings per household to the demand and size per dwelling. Key points Before 2008, the decrease in the size of the households and the increase in the population explained most of the…

Four years ago no housing was being built in Spain , and now 90,000 units are being built

Interviews 24th September 2018

“Where There Is Demand There Are No Houses, So Prices Go Up”

Mari Pinardo | Neinor Homes is the first housing promotor to return to the stock market 10 years after the crisis. Its CEO, Juan Velayos, recognises that many things have improved since then: Four years ago no housing was being built, and now 90,000 units are being built”. But he admits there are deep rooted problems in the sector: “Spain is seriously bad at generating supply, we are paying far more for apartments than we could do if there were transparent criteria.”

In Europe 25th August 2014

French construction sector reduces by 0.4% the GDP growth in 1H14

MADRID | The Corner |Besides naming the reshuffle of his Government, after a dispute over hauling the economy out of stagnation caused his government’s collapse, François Hollande has also committed to announce this week a package of measures to revive the economy, including specific stimulus for the construction activity, especially affected in terms of employment by a law to regulate the real estate market precisely adopted at the beginning of his term. It is estimated that construction activity in France represents about 8% of GDP and 1.2 million jobs.

World economy 20th August 2014

US residential construction recovers in July

MADRID | The Corner | After two months of decline, US construction rebounds in July at the fastest pace in eight months. As the Commerce Department reported yesterday, the number of housing starts rose 15.7% in July compared to June, reaching an annualized figure of 1.09 million units, the highest in eight months. Meanwhile, applications for building permits in the same month also advanced 8.1% to an annual rate of 1.05 million, after drops of 3.1 percent in June and 5.1 percent in May. Notably the permits to build single-family homes, a segment that accounts for three quarters of the U.S. housing market, increased in July by 0.9% to an annualized figure of 640,000, the highest since December 2013. In addition, permits for units in buildings with five units or more rose 23.6% in July to an annual rate of 382,000, representing its highest growth rate since January 2006.

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