The problem of housing prices in Spain:6 out of10 real estate properties are purchased in cash for investment purposes.
Every day it gets harder to buy your own home. "It's not possible. An ordinary person can't afford it.
However, renting is also becoming more complicated due to the high cost of housing, which is not decreasing. That’s why many have found a solution in renting rooms instead of entire apartments.
This increase in housing prices is largely due to the rise in the number of transactions made for investment purposes rather than for personal use, according to the latest FUNCAS report.
Last year, only 40% of transactions were made using a mortgage, while 60% were paid in cash.
And here, "foreigners come with a much greater financial potential than we have," explains real estate agent Marina.
This complicates accessibility for more modest economies and leads to rising prices, which are compounded by high interest rates and a lack of supply.
“Increasing supply is a fundamental solution. Perhaps it should be new housing, which seems necessary, but active housing policies and new standards are also required for such new housing that would not be an object of investment,” comments Santiago Carbo, director of financial research at FUNCAS, asserting that for the market to have a good year, it needs to achieve its “goal”: “so that all people have access to permanent housing.”
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