4 February 2020 – Eje Prime
According to forecasts from the real estate consultancy CBRE, although the number of new homes being built has been on the rise since 2017, the absolute number of new homes expected for 2020 is at an all-time low of 100,000.
Last year, 85,000 new homes were built, but both figures fall well below the number that experts estimate is required in Spain each year (140,000), and significantly below the number that were being constructed at the height of the previous real estate boom (600,000).
There is a mismatch between the market needs and the sector’s construction capacity, following the crisis when much of the capacity was reduced.
Nevertheless, the size of the housing stock per 1,000 inhabitants in Spain (540) is similar to that observed in other countries in the south of Europe, such as Portugal (526 homes per 1,000 inhabitants), France (546) and Italy (526).
Original Story: Eje Prime
Translation/Summary: Carmel Drake