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Planning the Purchase of a Property in 2022: Forecasts in the Housing Market

planear la compra de una casa en 2022 previsiones en el mercado de vivienda 1 - Planning the Purchase of a Property in 2022: Forecasts in the Housing Market

The evolution of home sales in Spain has provided positive figures in 2021. According to the latest data published by the National Institute of Statistics (INE), in October 2021, the number of operations exceeded 46,200, 22.2% more in the interannual rate.

The numbers indicate that at the end of the year, the figures could reach those of 2008, approaching around 600,000 purchase operations. This data confirms the recovery of the real estate market after the stoppage caused by the pandemic, which is an essential aspect if you plan to buy a home in 2022.

Market evolution, the key to buying a property in 2022

Different aspects support an increase in home demand. On the one hand, a lifestyle change, leading many people to seek a different type of home and in areas far from the centre. On the other, the increase in the savings rate during confinement. And, finally, the good economic prospects and favourable conditions to apply for a mortgage loan, with the Euribor at historic lows.

Buying a home in 2022, therefore, seems like a good decision. But it is convenient to consider the forecasts of the real estate market itself. The main one has to do with house prices. In 2021 they have experienced a moderate rise, and the predictions suggest that it will continue to be the case, although at levels below 10% and more in new construction than in second hand.

The price increase would come from the recovery of demand and the lack of stock in terms of new developments. With a slowly increasing housing stock, price increases are inevitable and not just in new brand homes. Part of this unsatisfied demand leads to the second-hand market, which will raise its price too, although to a lesser extent.

Where is growing the demand for housing?

Another key has to do with the areas that will experience greater appreciation. In this sense, the opening of borders has relaunched the demand from international buyers. Besides, there is a growing interest in having a second home. Both issues have triggered sales in the coastal areas.

More unknowns awaken the preferences of buyers when it comes to habitual residence. The peripheral areas took off firmly in 2020. However, the situation has balanced concerning the city centres, thanks to the return to in-person work and some normality.

Despite this, the evolution of the pandemic makes it tricky to establish how the real estate market will evolve. The forecasts indeed suggest that this inclination towards the suburbs will continue to be present in the minds of buyers.

What does not seem to be changing are those preferences for larger homes, with spacious and bright rooms and a garden or, at least, a terrace or common areas in the building. These features are easier to find in new residential areas.

If you are considering buying a property in 2022, think about the perspective of the real estate market to choose the best time and the best area to find the property you wish.

Spainhouses.net helps you by offering you a wide selection of homes for sale throughout Spain. Choose yours already.

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