2022-05-14-莱坊-Spain_New_Build_Residential_Snapshot_Q1_2022_March_2022_2页_747kb

Residential Market Summary - Q1 2022

Core Content Overview

This document provides a snapshot of the residential real estate market in Spain for Q1 2022, highlighting key trends in approvals, final works certificates, transactions, and housing prices. It also includes contextual data on economic growth and mortgage activity, as well as insights on buyer demographics and market uncertainty due to the ongoing impact of the COVID-19 pandemic.

Key Statistics

Approvals and Final Works Certificates (2020/2021)

• Approvals: 108,300, representing a +27% increase compared to the previous year.
• Final Works Certificates: 90,800, showing a +6% rise from 2020.

Transactions and Prices (2020/2021)

• Number of Transactions: 517,700, up by +36% compared to the previous year.
• Average Price (Free Housing): 1,694 €/sq m, with a +4.4% year-on-year increase.

Market Trends

Economic Recovery

• Spain's GDP showed a year-on-year increase of nearly 5% in the last quarter of 2021, indicating a continued economic recovery.
• This suggests a positive outlook for the real estate market in the coming months.

Mortgage Activity

• In 2021, 420,000 mortgages were closed, marking a +25% increase compared to 2020.
• The growth in mortgage activity is a sign of increased consumer confidence and market activity.

Regional Variations in Prices

• Huelva, Madrid, and Tarragona saw the highest price increases, ranging from 7% to 8%.
• New-build housing had an average price of 1,980 €/sq m, up by ~5% year-on-year.
• Existing housing averaged 1,685 €/sq m, with a +4.4% increase compared to the same period in 2020.

Buyer Demographics

• The majority of homebuyers in Spain continue to originate from Europe, with nearly 50% of transactions coming from European buyers.
• This highlights the strong international interest in the Spanish property market.

Market Uncertainty

• The impact of the COVID-19 pandemic remains a significant factor affecting market activity and future projections.
• Due to the uncertainty, comparative data from previous years is considered less relevant for current market analysis.
• The report emphasizes that market conditions may change rapidly and advises consulting with Knight Frank for detailed insights.

Key Contributors

• Carlos Zamora, Partner and Head of Residential, provides contact details:

  • Phone: +34 600 919 041
  • Email: Carlos.Zamora@es.knightfrank.com

• Rosa Uriol, Head of Research, offers:

  • Phone: +34 600 919 114
  • Email: Rosa.Uriol@es.knightfrank.com

Recent Publications

• Global Buyer Survey (2021)
• Global House Price Index (Q3 2021)

These reports are available on Knight Frank's websites:

• Spanish: knightfrank.es/
• English: knightfrank.com/research

Disclaimer

• This report is for general information only and should not be relied upon for decision-making.
• Knight Frank España, S.A.U. does not accept any responsibility or liability for losses or damages arising from the use of this document.
• Reproduction of the report is not permitted without prior written approval.

Legal Information

• Knight Frank España S.A.U. is a limited liability partnership registered in the Mercantile Register of Madrid.
• Tax ID (CIF): A-79122552
• Registered Office: Suero de Quiñones 34, 28002 Madrid.