2025-02-10-莱坊-Spain_PRS_Snapshot_Q4_2024_2页_651kb

Q4 2024 Spain Real Estate Market Summary

Core Content Overview

The Q4 2024 report from Knight Frank Spain provides a detailed analysis of the real estate market, focusing on rental prices, household financial wealth, disposable income, and investment trends. It highlights the continued growth in the rental market, the stability of household income, and significant investment activity in key cities.

Key Market Indicators

Rental Market

• Average rental price in Spain: €13.5 per square meter in December 2024, up by 11.5% year-on-year.
• Rental effort rate: Remains at 35% in Q3 2024, with some regions exceeding the national average.
  • Top provinces: Malaga, the Balearic Islands, and Barcelona have the highest rental effort rates, all surpassing 40%.
• Annual rental price variation: Most cities show increases between 10-15%, with Madrid at over 16%.
  • Secondary cities: Segovia leads with over 20% increase, followed by Ávila, Toledo, and Oviedo with increases near 15%.

Household Financial Indicators

• Net financial wealth: Reaches nearly €2,330 million, up by 11.7% compared to the same period in 2023.
• Gross disposable income: Stabilizes slightly in the last two quarters due to slower growth in property income, but still increases by 8.2% year-on-year.
• Gross return on housing rental: At 3.3% in Q4 2024.

Inflation and Purchasing Power

• CPI growth: Accelerates in December, with an increase of 1.3 tenths compared to September, leading to an annual variation rate of 2.8%, approaching 2024 first-half levels.

Investment Activity

Q4 2024 Investment Volume

• Total investment in Q4 2024: €355.9 million, up by 62.41% compared to Q4 2023.
• Total investment for 2024: Exceeds €1.3 billion.

Top Investment Deals

1. €100 million deal:

   • Vendor: Aedas Homes
   • Purchaser: Avalon
   • Houses: 944
   • Location: Madrid
   • Source: El Economista

2. €85 million deal:

   • Vendor: Nuveen
   • Purchaser: M&G
   • Houses: 331
   • Location: Valencia
   • Source: Observatorio Inmobiliario

3. €60 million deal:

   • Vendor: DWS
   • Purchaser: Catella
   • Houses: 235
   • Location: Madrid (Vallecas neighborhood)
   • Source: EjePrime

Market Trends

• The rental market in Spain continues to show strong growth, driven by increasing demand and limited supply.
• Secondary cities are gaining more attention, with notable price increases in Segovia, Ávila, Toledo, and Oviedo.
• Investment in the real estate sector has surged in the second half of 2024, with a 40% increase compared to the first half.
• Despite the slight stabilization in disposable income, households maintain strong purchasing power, supporting the real estate market.

Contact Information

• Carlos Zamora: Partner, Head of Residential

  • Phone: +34 600 919 041
  • Email: carlos.zamora@es.knightfrank.com

• Elaine Beachill: Director, Head of Living

  • Phone: +34 600 919 016
  • Email: elaine.beachill@es.knightfrank.com

• Daniel Caprarin: Head of Research, Marketing & PR

  • Phone: +34 600 919 087
  • Email: daniel.caprarin@es.knightfrank.com