Fotocasa believes that interventionism in rents will mark this 2023, reducing the supply available in the market because of regulation and pushing up prices, which could become more expensive by more than 5%.
The real estate portal points out that rental has become a market stressed by the shortage of supply, which has caused the main Spanish cities and provincial capitals to reach historical maximum prices.
Coinciding with the entry into force of the limitation of the price of rents to 2%, ensures that the price of leases began to recover what was lost and to present very significant increases above 15% in Madrid; 17% in Mallorca; 20% in Barcelona; 25% in Valencia or 27% in Malaga.
Fotocasa considers that leasing will now be the housing solution chosen by most families who have not arrived on time to buy a home, so prices could grow above 5% year-on-year according to their estimates.
In fact, he points out that a very pronounced contraction of supply has been detected, of around 35% at the national level, and that 4% of small owners keep their homes empty for fear of issues such as occupation or non-payment, considering that there is legal uncertainty before the possible approval of the housing law.
In this context, the portal ensures that the entry into force of the extension of contracts for six months and the limitation of prices to 2% until 2024 will reduce more sharply the supply of rental housing.
For 2023 it also expects the level of sales to moderate with a fall of 12%, slowed by the rise in rates and the lower purchasing power of families, and that there will be no sharp falls in price. Although some adjustment is expected from the middle of the year, it will be far from large declines, he stressed in a statement.