A new study on the Spain residential real estate market has been recently added to the vast repository of Report Ocean. The study is titled “Spain Residential Real Estate Market by Budget (Less than $300,000, $300,001–$700,000, $700,001–$1,000,000, $1,000,001–$2,000,000, and More than $2,000,000) and Size (Less than 49 Square Meters, 50–80 Square Meters, 81–110 Square Meters, 111–200 Square Meters, and More than 200 Square Meters): Global Opportunity Analysis and Industry Forecast, 2020–2027” and offers a deep insight in to the current status and future prospects of this market.
The Spain residential real estate market stood at US$128.3 bn in 2018. Expanding at a CAGR of 8.0% during the period from 2020 to 2027, the market is expected to reach US$149.9 bn by the end of the forecast period.
The residential real estate market in Spain is mainly driven by tremendous hike in rents of residential properties, especially in cities, such as Madrid and Barcelona. This led to good return on investment, resulting in buyers with decent income to invest in residential real estate market in this country. Apart from this, the increasing foreign investments are also driving this market substantially. The favorable governmental policies, rise in tourism, and the development in industrialization are leading to high investments by foreigners in the Spain real estate market.
On the other hand, due to the increasing demand, residential properties have been built in excess, which has exceeded the demand. This, in turn, is likely to restrain the growth in this market over the next few years. However, builders, contractors, and real estate agents have approached the Spanish government to waive off or decrease taxes, charged on registrations and documentation while purchasing and selling off the properties. This step, if realized, will help reduce the burden on this market.
Impact of Covid 19 on Spain Residential Real Estate Market
The impact of Covid 19 is rather harsh on a number of markets. One of them is the Spain residential real estate market. The outbreak of this pandemic brought in a lot of restrictions on the day-to-day work and the consequent economic slowdown has left people with very less money to spend on buying or renting out luxurious apartments. People now look for cheap places for a residence, which is reflecting negatively on the growth of this market.
Spain Residential Real Estate Market: Business Dynamics
In this research study, the Spain residential real estate market has been analyzed on two fronts: he budget and the size. Based on the budget, the market has been classified into less than US$300,000, US$300,001–US$700,000, US$700,001–US$1,000,000, US$1,000,001–US$2,000,000, and more than US$2,000,000. Based on the size, the market has been classified into less than 49 square meters, 50-80 square meters, 81-110 square meters, 111-200 square meters, and more than 200 square meters. The popularity of the 81-110 square meters segment is quite high among consumers.
The major players in the Spain residential real estate market profiled in this report are ACS Group, FCC, GG Homes, GH Costa Blanca, Hamilton Leon, Housfy, Miralbo Urbana, Molina Toro SL, Sitara Master Builders, and Triton Levante.
- The increasing foreign investments are driving this market substantially.
- The popularity of the 81-110 square meters segment is quite high among consumers.
The Spain residential real estate market is classified into:
- Less than $300,000
- More than $2,000,000
- Less than 49 square meters
- 50–80 square meters
- 81–110 square meters
- 111–200 square meters
- More than 200 square meters
Companies Mentioned in the Report
- ACS Group
- GG Homes
- GH Costa Blanca
- Hamilton Leon
- Miralbo Urbana
- Molina Toro SL
- Sitara Master Builders
- Triton Levante
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