Number of properties for sale in Spain on the rise
Number of Properties in Spain on the Rise
The “Housing Projection 2018” paper has been published by the Spanish National Institute of Statistics. They have predicted that in the next 15 years the nation will have 1.8 million extra homes in addition to the present properties if the pace of housing is maintained. It predicts that an excess of 1.821,547 properties will have been accumulated in 2033 compared to the current figure. This will lead to an increment of 9.8% in the next 15-years , which will result in 20,325,088 houses.
You may be asking yourself the technique that has been implemented to divide these numbers to precision. What they have done is to identify the current need for housing in places which are highly populated, but most importantly the new number of families that are coming up and changes in population in the future. At the same time, the need for family residence is expected to go up by 4.9% within the 15 year period. This is equal to a rise of 2,263,602 people. There are other differences which are likely to evolve apart from the increase in population.
If, for example, we take a look at what is trending, the number of people in every household will go down from 2.5 to 2.38 by the year 2033. As much as the numbers may not be specific, it is worth noting that the numbers have drastically gone down with time from 4 people in a family in 1970 to 2.9 in 2001 and finally to 2.5 this year. This literally means that one and two-bedroom houses will be in high demand in the next 15 years.
The report further suggests that houses for single people will increase significantly since the ratio of Spanish people who live alone is most likely to rise from 10.1% in 2018 to 12% in 2033. It is very obvious then, that the need for three, four and five bedroom houses will go down tremendously.
The “Housing Projection 2018” paper also outlines how residential dwellings in every region will grow. It has been stated above that there will be a 9.8% need for a rise in housing in all the regions (except Castilla Y Leon and Asturias) due to a prediction of a rise in housing needs by the year 2033. The Andalucia region will have more than 10.3% growth in a number of houses, although this is mainly due to it being a very popular destination for overseas buyers and Spanish nationals wanting a summer home to spend the holidays.