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What has happened? According to a study published by the portal Idealista, the supply of housing for sale in Spain in the third quarter of 2023 has decreased by 4% year on year.
Capital cities. Most of Spanish provincial capitals have fewer residential offers for sale now than a year ago. However, the supply has increased in nine of them. The largest decreases occurred in Cuenca (-34%) and Avila (-30%). This is followed by declines in Huelva (-20%), Santander (-20%), Valencia (-20%), Toledo (-19%), Soria and Tarragona (-18% in both cases).
Among the major markets, the supply has also decreased in Alicante (-15%), Palma (-11%), Barcelona (-10%), Malaga (-3%) and Madrid (-1%). On the other hand, the number of properties has increased slightly in Bilbao (+2%) and Seville (+5%).
In addition to these two cities, the number of properties for sale has increased in seven more cities, with Cordoba and Pamplona leading the way (+10% in both cases). They are followed by Huesca (+9%), San Sebastian (+8%), Zaragoza (+5%), Cadiz (+5%) and Badajoz (+3%).
Provinces. Cuenca has recorded the largest drop in supply: 18% less than a year ago. It is followed by Santa Cruz de Tenerife (-17%), La Coruña (-16%) and Avila (-15%). The decreases were a bit lower in Soria (-14%), Lugo (-14%), Cantabria, Segovia, Valencia, Teruel, Zamora and Huelva (-13% in six cases). The supply remained stable in Madrid, while in the province of Barcelona it has increased by 3%.
In Gipuzkoa the number of homes for sale has increased by 9%, followed by Vizcaya (+4%), Albacete (+3%), Cordoba (+3%), Zaragoza (+3%), Alicante (+2%). and Seville (+1%).
Source: Idealista
Photo by Susan Flynn on Unsplash
