There is a housing surplus in Spain, so there is more needed houses. Specifically, 433,000 units, according to the latest research prepared by UVE Valaciones with the 2021 census data published by the National Institute of Statistics (INE) a few weeks ago. But, This excess is not generalized across the country, but the situation is exactly the opposite in 13 provinces. 327,000 houses are needed To fix the current deficit. “The lack of housing is not a national problem, but a problem in specific areas,” Germán Pérez Barrio, head of the appraiser who wrote the report, said during the study’s presentation to the media.
Housing need is concentrated in the metropolitan areas of the country’s main cities and in regions with a strong tourism component. Madrid leads with a deficit of around 107,000 homes, 3.4% of the existing park. Like this: barcelonawhere almost 85,000 are needed, Valenciawith 64,500, Palma de Mallorcawith 32,600, Murciawith 25,000 and Malagawith 16,000. Cities where these figures represent a higher percentage of the census are Palma, where the houses needing to be built represent 8.8% of those currently available, Murcia, where the stock accounts for 8.45%, or Valencia, at 7%. “In these regions where deficits are so high, building new housing will, if not lower prices, at least help stop their rise,” said Germán Pérez Barrio.
“There are 13 provinces where not enough housing has been built. The Balearic Islands have the largest deficit, with 7% of the park. You only have to watch the news to understand that the situation there is terrible, because it is very difficult to find housing. But there are other areas where there is great need but not very well known, such as Álava, where the deficit is 4.5%,” explained the director of the valuation company.
Cities with more houses Mostly in areas where population is decreasing or ‘Spain Evacuated‘. According to the head of UVE Valuations in these regions where the housing surplus exceeds 10% of the built stock, “These are places where construction should not be done in the next 10 years.”. The functional area of Ourense is the area with the highest percentage of homes that are not needed; a total of 13,000, or 12.5% of the current census; followed by Ferrol (11,800), Ciudad Real (6,400) and Ponferrada (5,000). At the provincial level, in addition to A Coruña or Ourense, the regions with the lowest housing need are Ciudad Real (59,750), Toledo (52,000) or León (40,000).
Prices are higher in places where there are fewer houses and fewer vacancies.
The appraiser’s report includes the relationship between the number of vacant homes in a particular area, the need for new homes, and prices. The main conclusion would beWhere there are fewer vacant properties and more shortages, prices are highest. For example, the provinces of Madrid and Gipúzkoa are among the five regions in the country with the highest prices and the fewest number of houses vacant and unused. On the contrary, Ourense is the region where only one in every two construction properties are occupied and has the cheapest average price in all of Spain.
Moreover There is a correlation between the development of housing vacancy in municipalities and prices. In Malaga or the Balearic Islands, where housing use increased by 4.3 percent, prices increased by 17.6 percent and 16.6 percent, respectively, between 2010 and 2020. In Zamora, the opposite happened; Unemployment increased by 1% and prices fell by nearly 5%.