According to most real estate experts, house prices will not decrease in 2023. The residential market is experiencing a moderation in its activity after two years of a significant increase in home purchase and sale operations following the end of the pandemic. The credit supply in Spain has been transformed in just over a year to be able to access a home, and the supply of houses for sale has been reducing as the demand to be able to acquire one has not stopped growing. With this panorama, it can be intuited that prices will not fall for the remainder of the year, so an increase of 2% could be expected between now and the end of the year at the national level.
The main factors taken into account when valuing a home are the area and environment in which it is located, its typology (single-family, penthouse, ground floor with garden or apartment) and whether it is second-hand or newly built. . In addition, height, orientation and views or common areas can also influence the value of the home. Some socioeconomic factors also influence the price of housing in Spain. The area in which a property is located is a determining factor when valuing a property. The environment is key because not only the exact location of a home matters, but also its proximity to schools, hospitals and health centers, playgrounds, shopping and leisure centers and sports facilities. Other factors that influence the value of the home are the cost of the developable land, taxes and fees that represent around 25% of the final price, production costs and the margin that the developer takes.
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