Intentions to buy homes in Spain remain unchanged

We are now entering the third quarter of the year; an excellent time to evaluate the state of the real estate market in our country. We analyze, in detail, the current level of interest in buying homes in Spain.

Below, we have summarized the most relevant aspects of the report “Radiography of the housing market in 2023“, published by the real estate portal Fotocasa on August 9, 2023.

Purchase intention remains stable

The report indicates that, 21% of the Spanish population intends to purchase a property in the coming years, which represents only 1% less than in August 2022.

Of this group:

• 7% plan to do so within less than two years. A figure that decreases by one point compared to the previous period.

• 14% intend to buy a property within two to five years, a percentage that remains the same.

These results allow us to affirm that the intention to buy a property in Spain remains constant.

The decrease is observed in the short term. It is directly related to the new scenario of high interest rates, with the hope that they will stabilize at attractive levels in the coming years.

So far in 2023, there have been 14% of the total number of Spaniards who have either bought a home or tried to do so. A slightly lower number than in 2022 – when it was 16% – but still considered stable.

Young people are the most eager to buy a home in Spain

What is the result when looking at the age brackets of the population interested in becoming homeowners?

From 18 to 24 years old: 38% plan to buy a property in the next few years. A result that presents a significant increase compared to the 32% registered in 2022.

• 25 to 34 years old: the intention to buy in the next five years of this group decreases from 43% to 38%.

• 35 to 44 years old: the willingness to buy a property remains stable at 24%.

• 45 to 54 years old: interest in becoming a homeowner decreases from 18% to 16%.

• From 55 to 75 years old: the intention to buy is at 11%.

And if we look at the territory?

• 19% of those who want to buy are located in Andalusia.
• 15% in Catalonia.
• 14% in Madrid.

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