2024-11-15-莱坊-Spain_PRS_Snapshot_Q3_2024_2页_648kb

Q3 2024 Spain Real Estate Summary

Core Content

The Q3 2024 real estate report from Knight Frank Spain provides an overview of the current state of the rental and property markets, highlighting key economic indicators, market trends, and investment activity. The report is based on real data and expert analysis, offering insights into the performance of the sector.

Key Market Trends

Rental Prices

• Annual Growth Rate: Rental prices in Spain have continued to rise, with an annual growth rate of 10.2% in September 2024.
• Average Rental Price: The average rental price in September 2024 was €13.0/m², showing a consistent upward trend.
• Top Cities:
  • Palma leads with a 20% increase in rental prices.
  • Madrid maintains an increase of over 15%.
• Secondary Cities:
  • Ávila, Valencia, and A Coruña are notable for their 15% increase in rental prices compared to the previous year.
• Rent Effort Rate:
  • The rent effort rate in Spain rose by 36% in Q2 2024.
  • Málaga, Baleares, and Barcelona have the highest rates, all exceeding 40%.
  • The home purchase effort rate averages 23% across Spain.

CPI and Economic Indicators

• CPI Growth: The CPI growth in Spain moderated in September, recording a reduction of 0.8% compared to August.
• Annual CPI Rate: The annual rate of change for CPI stood at 1.5%, marking the most contained behavior of the year.
• Net Financial Wealth: Net financial wealth continues its upward trend, reaching nearly 2.30 trillion euros, a 7.88% increase compared to the same period last year.
• Gross Disposable Income: This increased by 8.7% in the latest recorded period, exceeding 250 billion euros, reflecting improved household purchasing power.

Investment Activity

• Q3 2024 Investment Volume: The transacted volume in Q3 2024 was €260.5 million, slightly lower than the €371 million in Q3 2023.
• Expected Activity: It is anticipated that investors will resume activity in the final months of the year.
• Top Investment Deals:
  • €60 million in Guadalajara by Ares Management (337 houses).
  • €55.6 million in Madrid by the Community of Madrid (225 houses).
  • €29 million in Parla, Madrid by Round Hill (147 houses).
  • Aviva and Layetana Living acquired a project in Palma to build 331 homes.

Sources

• Spain CPI Data: From Banco de España.
• Net Financial Wealth and Gross Disposable Income: From Banco de España and INE.
• Rental Effort Rate: From Idealista.
• Investment Data: From Brainsre and Property Web.

Contact Information

• Residential: Carlos Zamora, Partner, Head of Residential. Email: carlos.zamora@es.knightfrank.com. Phone: +34600919041.
• Capital Markets: Elaine Beachill, Director, Head of Living. Email: Elaine.Beachill@es.knightfrank.com. Phone: +34600919016.
• Research: Daniel Caprarin, Head of Research, Marketing & PR. Email: Daniel.caprarin@es.knightfrank.com. Phone: +34600919087.

Additional Notes

• The report encourages inquiries about the research or property advice, indicating a willingness to engage with stakeholders.
• The visual aids provided include graphs and charts for Spain CPI, Net Financial Wealth, Rent Effort Rate, and Average Rental Price over the period 2006–2024.