A Shift in Priorities on the Real Estate Market
In recent months, Catalonia has seen a significant change in residents’ housing preferences. While renting was previously the popular choice, more and more people are now considering buying an apartment or house. This shift is driven by limited rental options and lower mortgage interest rates, making homeownership more accessible for a wider range of people.
Transaction Trends and Demand Hotspots
According to recent data, more than 26,000 real estate transactions were closed in the region in the second quarter of this year. Catalonia ranks among the national leaders, second only to AndalucΓa. Together with Madrid and Valencia, these regions make up the core of Spain’s housing market. Although activity dipped slightly compared to the previous quarter, the annual figures show steady growth in the number of transactions.
Why Residents Are Choosing to Buy Over Rent
Real estate experts point out that the main reason for rising interest in buying is the difficulty in finding suitable rental options. Many tenants are struggling with a lack of available properties, especially in larger cities like Barcelona. As a result, when the opportunity to get a mortgage arises, more residents are considering purchasing a home. For many, it has become the only way to secure long-term stability and avoid the risk of losing their roof over their heads.
Portrait of the new buyer
Among those deciding to purchase, two main groups stand out. The first are people who have been renting for a long time and have managed to save enough for a down payment. The second are young professionals aged 30 to 35 with stable jobs and family support. For them, not only attractive loan terms, but also the chance to choose a home that meets their needs in terms of location and amenities, become key factors.
Impact of the current situation on the market
Market participants note that despite the ongoing price increases, demand to buy remains high. Many renters, facing a situation where finding a suitable apartment is nearly impossible, prefer to invest in their own property instead. This leads to a further decrease in rental supply and intensifies competition among buyers.
Outlook and expectations
According to experts, if this trend continues, the number of purchase and sale transactions will likely keep rising in the coming months. At the same time, the issue of housing affordability for young families and people with lower incomes remains pressing. Regional authorities are already discussing potential measures to stimulate construction and expand supply both in the rental market and in property sales.
