2023-01-13-莱坊-Spain_New_Build_Residential_Snapshot_Q3_2022_2页_771kb

报告摘要

Residential Market Summary - Q3 2022

Core Content

This document provides an overview of the residential real estate market in Spain for the second quarter of 2022, including trends in approvals, final works certificates, transactions, and prices. It also highlights the broader economic context and key insights from Knight Frank Research.

Key Market Trends

Approvals and Final Works Certificates

Approvals: In Q2 2021/Q2 2022, approvals increased by 3%, totaling 52,400 units.
Final Works Certificates: The number of final works certificates decreased by 6%, reaching 42,700 units in Q2 2022.
Year-end Forecast: Approvals are expected to close the year at around 100,000, an 8% decline compared to the previous year. Final works certificates are projected to be 10% lower than in 2021, due to the lag between approvals and completions.

Transactions and Prices

Transactions: Over 305,100 units of free housing were transacted in the first half of 2022. This is expected to rise to 550,000 by year-end, representing a 6% increase compared to 2021.
Prices:
- Free housing: The average price in Q2 2022 was 1,740 €/sq m, up by 6% year-on-year.
- New build: The average price reached 2,000 €/sq m, an increase of 6.2%.
- Existing housing: The average price was 1,730 €/sq m, up by 5.6% year-on-year, slightly more contained than the previous quarter.

Economic Context

GDP Growth: Spain's GDP growth in Q2 2022 was close to 7% year-on-year, with an end-of-year forecast of 4.3% by the IMF.
CPI Inflation: The CPI growth slowed slightly but remained high, reaching 7.3% in October 2022.

Foreign Buyers

The origin of homebuyers in Spain continues to be dominated by Europeans, accounting for nearly 45% of the market.

Mortgage Trends

The number of mortgages in Spain up to August 2022 was around 310,000, showing an annual increase of over 15%.
However, the forecast indicates that the number will end the year below 400,000, primarily due to the rise in interest rates.

Additional Information

Data Sources:
- Approvals and final works certificates: Ministry of Public Works / INE
- Transactions and prices: Knight Frank Research / Ministry of Public Works
- CPI and GDP: INE
Visuals: The document includes several charts and graphs to illustrate trends in approvals, transactions, prices, and mortgage numbers over time.

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 information.
Reproduction of the report is not permitted without prior written approval.

Contact Information

Carlos Zamora: Partner, Head of Residential
- Email: Carlos.Zamora@es.knightfrank.com
- Phone: +34 600 919 041
Rosa Uriol: Head of Research
- Email: RosaUriol@es.knightfrank.com
- Phone: +34 600 919 114