The real estate sector forecasts an increase in house prices of 4.5% in 2022

Professionals in the real estate sector estimate that the price of housing will rise by 4.5% in 2022, in line with the behaviour registered throughout 2021, according to the conclusions of the ‘X Real Estate Barometer – The market sentiment of real estate professionals ‘, prepared by the Union of Real Estate Credits (UCI) and the Spanish International Realty Alliance (SIRA).

Real estate agents assure in this barometer that the sector is experiencing a moment of stability, with a moderate increase in the closing of operations in the last quarter of 2021, according to the responses of 66.7% of those surveyed. Data from the National Institute of Statistics (INE) confirm their perception, with 565,523 property sales in 2021, the best figure in the last 14 years.

Despite the good performance of the sector, real estate professionals now see more difficulties in attracting new clients. However, more than 6 out of 10 agents suggest that in the coming months the number of sellers will stabilise and turn towards moderate growth.

The deputy director general of UCI, José Manuel Fernández, is confident that the increase in prices will remain moderate throughout 2022, “conditioned by the behaviour of interest rates and, consequently, the price of mortgages.

“A rise in the price of mortgages, without the purchasing power of customers evolving at the same time, could cause housing prices to moderate,” he explains.

By autonomous communities, the price of housing could rise by up to 7.9% in the Basque Country and 7.8% in the Balearic Islands. Increases are also estimated in the Canary Islands, of 3.7%, in Madrid, of 3.5%, or in Murcia, of 2.8%.

The experts consulted for the preparation of the Barometer consider that in 2022 the interest in buying will exceed renting, with a growth of 8.25% in the case of buying and selling and 3.3% in renting.

In the case of rent, the forecast increases are close to 3%, in line with the growth in demand.