Property market statistics

The high-end residential market in Madrid continues to attract foreign investment, especially American buyers, who consider the region as the “European Miami”, according to Lucas Fox, the real estate agency specialising in luxury housing. According to its data, renovating a home in the capital's 'prime' neighbourhoods can increase its price by more than 70% to over €10,000/m2. Jerónimos (€20,800/m2), Recoletos (€17,300/m2) and Goya (€15,000/m2) stand out the most but La Moraleja (€12,000/m2) and Pozuelo (€11,500/m2) are also noteworthy.

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.

Every year, tens of thousands of foreigners decide to buy a home in Spain, regardless of whether or not they need to take out a mortgage. According to idealista/hipotecas, the profile requesting financing to buy a property in 2023 is a foreigner with an average income of almost €6,000 per month looking to buy a house for around €213,000 – 20% higher than the national average.

Real estate investment in Barcelona is on the road to recovery.

The supply of properties for sale fell by 8% in the fourth quarter of 2023, compared to the same quarter of the previous year, according to a study published by idealista, southern Europe's real estate marketplace.

The gap between demand and supply is a key factor that marked the real estate market in Spain during 2023. This is likely to continue in these first months of the year, just as there is a difference between new and used housing.

Co-ownership has grown in the winter real estate market. Vivla has six premium homes in the most exclusive residential areas near the resort Baqueira Beret. All homes are in prime locations, close to the slopes, and adapted to skiing or mountain sports.

The European real estate market is going through a difficult phase related to rising interest rates, which have dampened real estate investments (at ten-year lows) and asset prices, although returns are holding up well.

The year 2023 will end with a seemingly contradictory balance in the real estate market: mortgages are falling and the volume of transactions is suffering after a year as significant as 2022.

The Catalan real estate sector is standing up to the declaration of high-tension zones that the Generalitat has announced as a preliminary step towards capping rents in 140 municipalities in the region. At the end of June, the Ministry of Territory of the Generalitat of Catalonia began declaring 14