The trend of decreasing availability of properties for sale has been felt for quite some time in different regions of Spain, especially in the popular tourist destinations of the country.
Thus, according to a study published by a popular Spanish real estate portal, idealista, the availability of housing for sale in the Canary Islands has fallen by 22% in the last four years, if we compare the supply data of the first quarter of 2019 with that of the same period in 2023, while the prices of pre-owned housing have increased by 23% in the same period. Nationally, the stock of homes for sale has fallen by 12% in the last four years, but the price of pre-owned homes has risen by 15%.
Cuenca is the capital city where the supply has fallen the most in the last four years, by 66%. It is followed by the city of Santander, where it has also been reduced by more than half during this legislature (-54%). This is followed by reductions in Segovia (-49%), A Coruña (-43%), San Sebastián (-42%), Pontevedra (-42%), Valencia (-41%) and Ávila (-40%).
Among the most in-demand markets, after Valencia, supply fell in Alicante (-32%) and Zaragoza (-32%), followed by Bilbao (-29%). In Seville, supply fell by 22%, followed by Palma (-15%), Malaga (-11%), Madrid (-10%) and Barcelona (-4%). On the other hand, supply increased in 7 capitals during this municipal mandate. The largest increases were in Granada (66%) and Jaén (37%). These are followed by increases in Cáceres (28%), Ourense (7%), León (7%), Córdoba (6%) and Girona (5%).
In terms of prices during this legislature, the highest increases were recorded in Santa Cruz de Tenerife (32%), Palma (26%), Alicante (24%), Valencia (24%), Cuenca (23%) and Badajoz (22%). Among the major cities, they are followed by Malaga (19%), Zaragoza (11%), Bilbao (9%), Madrid (4%), Seville (4%) and a decrease of 4% in Barcelona. Palencia recorded the largest fall in prices (-9%), followed by Jaén (-7%) and Zamora (-5%).
FEWER HOMES FOR SALE IN THE NORTH OF SPAIN
Cantabria is the Spanish region where the available stock fell most (-39%), followed by the Basque Country (-37%), Aragon (-33%) and Navarre (-28%). They are followed by Castile-La Mancha (-27%), Asturias (-26%) and Galicia (-24%). Andalusia, on the other hand, is the only region in which the number of animals has increased over the last four years: 6%. The smallest falls were recorded in Extremadura (-3%), Murcia (-4%), La Rioja (-7%) and the Autonomous Community of Valencia (-7%).
The highest price increases were recorded in Andalusia and the Balearic Islands (both 29%), followed by the Comunitat Valenciana (25%) and the Canary Islands (23%). Asturias, Galicia and Castilla y León are the only regions where prices have fallen during this legislature: they have all fallen by 1%.
DECREASE OF HOME SALE OFFER BY PROVINCE
The province of Huesca is the one that has recorded the greatest reduction in supply over the last four years, with a fall of 46%. It is followed by Guipúzcoa (-45%), Cuenca (-43%), Segovia (-42%), Cantabria, Toledo and Guadalajara (-39% in all three cases). In the province of Madrid, the decrease was 22%, while in Barcelona it was 6%. The highest increases were recorded in Granada (34%), Jaén (21%), Málaga (19%) and Alicante (17%).
In terms of prices, the province of Málaga recorded the highest increase, with a rise of 40%. This was followed by the Balearic Islands (29%), Santa Cruz de Tenerife (29%), Alicante (27%) and Álava (18%). In Madrid the price rose by 11%, while in Barcelona it increased by only 1%. The largest falls over the four years were recorded in Ciudad Real (-7%), Palencia (-6%), Jaén (-5%) and A Coruña (-5%).