Property transactions tend to rise during summer, according to the experts consulted, which is why a slight increase in prices is also predicted. Prices have generally increased so far this year, but only moderately, by between 1% and 2%, a figure lower than inflation, which is expected to remain above 3%. According to Alfa Inmobiliaria, new builds could experience a greater increase in price due to their scarcity and more modern construction standards, which justify a higher price.

The Canary Islands Government is considering requesting a restriction on the purchase of homes by foreign capital on the islands. This is the result of the demographic saturation in tourist areas and the lack of housing stock for Canary Islanders. There are other EU areas that have these limitations, but their regulation is prior to joining the European Union. Is this measure feasible in Spain? What does the legislation say? What consequences could this measure have for the real estate sector?

According to the Association of Property Registrars, property purchases by foreign capital reached record highs, representing almost 15% of the total number of transactions in 2023. Spain is always an attractive country for foreigners, so good property transactions are also expected for this type of client in the summer and growth in the summer season, according to experts consulted by idealista/news.

One segment that knows very little about recession is the luxury housing market. As it continues at a good pace, experts predict it will grow during the second quarter of 2024. It should be noted that, while the rest of the residential segments have been slowing down during 2023, it has remained resilient and Spain is ranked as the fourth destination luxury worldwide. Madrid, Murcia and the Canary Islands will be the most appealing areas for non-residents.

A busy quarter is approaching for real estate sector. In the run-up to summer, those looking buy usually close their transactions. Experts give their forecasts for the next quarter, among which are a shortage of housing, which will mean that demand and prices do not fall and may even continue to increase, and purchases made by foreigners will continue to rise from 21.4%, which was already established during the first half of 2023.