The real estate market has undergone significant evolution since 2016, influenced by various economic, social and technological factors. Below, we explore how the sector has changed in recent years and where it stands today.
Transformation of the real estate market in recent years
• Sector recovery and stability
After a prolonged recession, the real estate market began to recover from 2016, with a steady increase in home sales. This growth has continued over the years, consolidating a trend of stability in transactions and mortgages.
• Increase in demand for mortgages
Demand for mortgages has been on the rise, with significant growth in the preference for fixed-rate mortgages, reflecting buyers' search for stability. This trend has been particularly visible in recent years, with growing interest from those seeking more predictable terms for their loans.
• Preference for second-hand homes
Over the years, most real estate transactions have focused on the purchase of second-hand homes, due to their availability and more affordable prices. This market has dominated sales throughout the country, remaining the preferred option for many buyers.
Key trends in the real estate market
• Growth of renting as a housing option
Renting has gained popularity as a flexible alternative for those looking to adapt to work and personal changes. This interest has continued despite variations in prices, driven by the need for mobility and short- and long-term rental options.
• Digitalization and new technologies
The adoption of digital tools has transformed the way buyers, sellers and agents interact with the real estate market. From virtual tours to online mortgage application assistants, digitalization has improved the user experience and facilitated access to key information for decision-making.
• Focus on sustainability and energy efficiency
The construction of sustainable homes and the renovation of buildings to improve their energy efficiency have become priorities for the sector. These practices not only respond to growing consumer demand, but also align with environmental regulations that seek to reduce the environmental impact of the construction sector.
Real estate market outlook for 2025
• Moderate price increase
Home prices are expected to continue on an upward trajectory, albeit at a more moderate rate. Projections for 2025 indicate that demand will remain strong, especially in large cities, while rural areas will see slower growth.
• Rise of green mortgages
Awareness of sustainability will continue to drive demand for green mortgages, those aimed at improving the energy efficiency of properties. These types of mortgage products offer better conditions for those who invest in improvements such as solar panels and thermal insulation.
• Adoption of new forms of housing
Housing alternatives such as cohousing and coliving are expected to boom, as they respond to the needs of a market seeking more flexibility and community. This phenomenon will also be boosted by the increasing digitalisation of work, which allows many people to opt for housing options that are more adapted to their lifestyle.
• Reactivation of rental and profitability
Although home buying will remain predominant, the rental market will regain strength as economic activity recovers and prices adjust. By 2025, rental yields are expected to remain attractive.
Conclusion: A market in constant evolution
The real estate market has shown a remarkable ability to adapt to the social and economic changes of recent years. Looking ahead to 2025, the sector promises to maintain its dynamism, offering opportunities for those looking to purchase a home, invest in rentals or invest in sustainability. Adapting to these trends will be key to taking advantage of the opportunities offered by a constantly evolving market.