Post by account_disabled on Feb 24, 2024 18:37:48 GMT -10
The Community of Madrid has experienced a 2023 of drops in sales and increases in the price of housing and rent. And forecasts suggest that the trend will continue next year.
According to the Madrid Association of Real Estate Companies (AMADEI) , the real estate association of the Community of Madrid, the market will continue to be marked by macroeconomic and political instability, as well as by international war conflicts.
In this scenario, the Madrid employers anticipate that "we will see a reduction in operations in Madrid of between 8% and 15%, caused by still high inflation , high interest rates and a very turbulent global geopolitical situation due to conflicts. international wars.
According to AMADEI, the Madrid market is one of those Lebanon WhatsApp Number List that is registering the greatest year-on-year declines in the number of operations because, due to its size and type of client, it is more vulnerable to the current economic and regulatory situation. Of course, " its recovery will also be faster than that of many other markets in the country, since it is one of the regions that sets the pace for the real estate sector nationwide," he adds.
He also expects declines in new mortgage operations, since "the reduction in sales, interest rates and other economic factors will mean that buyers will not have the possibility of buying, since they will not have the capacity to pay the mortgage payments." that they request and the entities will not grant them the financing necessary to carry out the operation".
Prices and rents on the rise
Regarding purchase prices , the employers explain that in some areas of the Community of Madrid they are too high and should be lowered by at least 10%. However, employers expect them to continue rising, with a range of between 3% and 5% in 2024 . This new rise in prices will make it very difficult for a significant part of the demand to be able to buy a home in the central districts of Madrid capital, as well as in municipalities of the metropolitan area such as Móstoles, Alcalá de Henares, Torrejón de Ardoz or Fuenlabrada.
“Banking entities have adopted a position of prevention in the face of economic and political uncertainty worldwide, which is why they are granting mortgages for 80% of the value of the home or even less, amounts that are insufficient for the majority of potential buyers. . And the purchasing power of demand has decreased significantly in recent years if we compare the evolution of the average salary of citizens with the cost of living in the Community of Madrid," laments the Madrid real estate association.
In the case of rental income, it also anticipates increases due to growing demand and an increasingly scarce supply of apartments for rent.
According to the Madrid Association of Real Estate Companies (AMADEI) , the real estate association of the Community of Madrid, the market will continue to be marked by macroeconomic and political instability, as well as by international war conflicts.
In this scenario, the Madrid employers anticipate that "we will see a reduction in operations in Madrid of between 8% and 15%, caused by still high inflation , high interest rates and a very turbulent global geopolitical situation due to conflicts. international wars.
According to AMADEI, the Madrid market is one of those Lebanon WhatsApp Number List that is registering the greatest year-on-year declines in the number of operations because, due to its size and type of client, it is more vulnerable to the current economic and regulatory situation. Of course, " its recovery will also be faster than that of many other markets in the country, since it is one of the regions that sets the pace for the real estate sector nationwide," he adds.
He also expects declines in new mortgage operations, since "the reduction in sales, interest rates and other economic factors will mean that buyers will not have the possibility of buying, since they will not have the capacity to pay the mortgage payments." that they request and the entities will not grant them the financing necessary to carry out the operation".
Prices and rents on the rise
Regarding purchase prices , the employers explain that in some areas of the Community of Madrid they are too high and should be lowered by at least 10%. However, employers expect them to continue rising, with a range of between 3% and 5% in 2024 . This new rise in prices will make it very difficult for a significant part of the demand to be able to buy a home in the central districts of Madrid capital, as well as in municipalities of the metropolitan area such as Móstoles, Alcalá de Henares, Torrejón de Ardoz or Fuenlabrada.
“Banking entities have adopted a position of prevention in the face of economic and political uncertainty worldwide, which is why they are granting mortgages for 80% of the value of the home or even less, amounts that are insufficient for the majority of potential buyers. . And the purchasing power of demand has decreased significantly in recent years if we compare the evolution of the average salary of citizens with the cost of living in the Community of Madrid," laments the Madrid real estate association.
In the case of rental income, it also anticipates increases due to growing demand and an increasingly scarce supply of apartments for rent.