Spain | Housing demand after COVID-19

Summary

During the confinement, families spent more time at home, which in some cases awakened the need, or the desire, to have a larger house to make day-to-day life at home easier and, who knows, to be prepared for similar eventualities in the future.

Key points

• Key points:
• Households have been acquiring larger homes: the average size of the home purchased would have gone from around 95 sqm at the beginning of 2019 to around 105 sqm in 3Q21.
• The recovery of single-family housing has been more relevant than that of high-rise housing, although it has moderated in recent months. The sector is trying to respond to this demand.
• Most of the provincial capitals have gone from being the municipalities with the greatest dynamism in sales and purchases during the recovery period (2013-2019) to showing declines in sales after the appearance of COVID-19. Only a few provincial capitals have continued to be the main contributors to the increase in sales and purchases after the appearance of the pandemic.
• Analysis in eight of the country's most populated cities shows that demand has shifted to municipalities in the same province with lower population density and a greater supply of single-family homes.
• After the pandemic, the data do not indicate that demand has shifted to provinces other than the province of residence.

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