Alex Trelinski
THE number of homes in Spain for sale dropped by a significant 15% in the last quarter of 2024, compared to the same quarter of 2023, according to an Idealista study published on Friday.
The real estate internet portal analysed its adverts and said it was ‘the largest year-on-year drop ever recorded’ since records began, as property prices continue to soar.
All of Spain’s provincial capitals ended 2024 with fewer homes for sale than a year earlier, with the exception of Girona, where there were 5% more.
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The biggest fall was in Zaragoza, with a 40% drop, followed by A Coruña and Oviedo on 38%.
Behind them are Pontevedra (-34%), Seville (-33%), Teruel (-33%), Soria (-32%), Burgos (-31%), Avila (-31%) and Valencia (-30%).
Properties available for sale fell significantly in Madrid (-29%) and Barcelona(-23%).
There were moderate falls in Bilbao (-19%), Palma (-17%), Alicante (-15%), Malaga (-12%) and San Sebastian (-8%).
The contraction in housing supply was more severe in cities rather than in provinces as a whole.
Experts also believe that with a general shortage of housing, the new property boom is also seeing fewer homes being advertised online, which is what the Idealista survey measures.
Idealista spokesperson, Francisco Iñareta, said the supply situation will worsen in the coming months especially with cheaper mortgages.
“With lower interest rates, it appears unlikely that demand will fall which means prices will continue to rise,” Iñareta predicts.
