What can we expect from the real estate market in 2019?
for 2019, other real estate agents understand that 2019 will be the year of the maturity of a fundamental sector for the national economy.
Spain has reached a point of maturity in which we do not expect large increases in activity, but it does consolidate or slightly improve the figures in the new construction promotion business.
This new cycle is marked by a protagonist wh0, in earlier times, was not so present: the client. He will continue to be the axis alongside innovation and sustainability, on which different promoters are already working on, to cover even more the needs of future owners. There has been increasingly new offer of green, modern, smart and fully adapted properties to the new demands of the client. One of the main indicators to measure the health of the real estate sector is the price of houses. By 2019, according to the experts consulted, this parameter will remain upward but in a more moderate way.
Regarding second-hand apartments, according to the Real Estate Index of Fotocasa, 2018 closed with an average annual price increase of 7.8%, the highest level since 2006.
"The behaviour of prices remains very uneven and in 2018 the differences between regions have been further marked, with Madrid, Cataluña and the islands leading the increases with year-on-year rises ranging between 10% in Cataluña and 19.5% in Madrid. These increases contrast with the more moderate behaviour of the rest of the country and with the red numbers still registered in some regions.
The Director of Studies of Fotocasa highlights, in addition, that ‘although these percentage rises are reminiscent of the years of the boom, the average price of second-hand housing is still 36.7% below the maximum of those years’. This together with the checks on financing and the stabilisation of the market, distances the possibility of a ‘real estate bubble’.
Looking ahead to 2019, Fotocasa argues that this sector will continue to grow at a good pace and prices will continue their upward trend although they will stabilise. rector of Knight Frank, points out that ‘prices are around 1,800 euros per square meter in new construction and about 1,600 euros in second hand, and by 2019 we expect the growth experienced in some cities such as Madrid and Barcelona to soften, while the recovery in other markets is consolidated’.
Tinsa predicts that there will be a ‘gradual stabilisation in Madrid, Barcelona and other cities with notable recent increases, and continuity of increase in their urban areas’.
“In the rest of the regions there will be possible moderate increases," explains Rafael Gil, director of the Tinsa Studies Service.
From Aedas Homes, its CEO, David Martinez, says: "We expect and want healthy increases around 3%, 4% and 5% nationally."
Obviously, and due to the high heterogeneity of the market, there will be locations where they increase at a faster rate and others in which the increases will be slower. British and Spanish qualified Architect