Preference for buying homes in Spain continues to boom

Did you know that buying a home is still the main choice for those looking for a home in Spain? That’s right! Despite the economic and social changes of recent years, the real estate market shows a resilience that reinforces this trend.

Growing demand for buying as opposed to renting

According to the report “Radiography of the real estate market in the second half of 2024”, prepared by Fotocasa Research, 48% of Spaniards looking for housing prefer to buy, compared to 42% who opt for renting.

In addition, 15% of the adult population is actively looking for a property to own, which is an increase compared to the previous year.

What has changed?

• More people want housing stability.
• Rental prices have risen, which encourages people to buy.
• Mortgage conditions are more flexible than in previous years.

Factors that have prompted people buying homes in Spain

Several aspects have contributed to property ownership continuing to be a priority for Spaniards. Among them:

• Foreign interest: the Spanish market continues to be attractive to international buyers.

• Investment in financial security: housing is perceived as a secure long-term asset. In addition, inflation has encouraged investment in tangible assets.

• Shifts in priorities following the pandemic: large, telework-friendly spaces are more valued and less urban areas have become attractive.

The challenge: lack of supply

While the demand of buying homes in Spain is strong, the market faces a significant problem: the imbalance between supply and demand. While 77% of market participants are buyers, only 15% are sellers.

This mismatch has generated:

1. Rising prices: the shortage of supply increases the cost of housing.
2. Difficulty of access: for young people and small savers, finding a home is a major barrier.

It is also worth mentioning that the production of new construction is not advancing at the pace needed to meet this demand, and this is especially reflected in large cities.

Advantages of buying versus renting

Despite the difficulties, buying remains a preferred option for many reasons. The following are some of the key advantages that explain this choice:

• Revaluation of the property: a home can increase its value over time.
• Possibility of customization: owners can adapt the space to their needs.
• Long-term stability: buying secures a home without relying on changes in rental contracts.

Market outlook

The dynamism of the Spanish real estate sector shows no signs of slowing down. High demand from small savers, large investors and foreign buyers suggests that the trend will continue.

In addition, efforts by the government and private entities to improve access to housing could balance the market in the coming years.

Find your home in Barcelona and Madrid

Undoubtedly, the preference for buying a home in Spain is not just a cultural issue, but a strategic decision. Challenges exist, but the advantages of property, combined with the interest of different types of buyers, strengthen this trend.

At KM2 Real Estate Services, we understand the needs of each client and offer advice to find the ideal home. We have a wide range of new homes for sale and rent.

Would you like to see them all? We invite you to do it now here.

Do not hesitate to contact us or visit us in our agencies in Barcelona or Madrid, we are waiting for you!