The Bank of Spain estimates that one million homes will be needed by 2028 due to an accumulated deficit of 755,000 since 2021. Deputy Governor Soledad Núñez highlighted the impact on young people and new residents.
According to expansion.com, the real estate market in Spain faces an accumulated deficit of 755,000 homes since 2021, a situation that could worsen in the coming years. The Bank of Spain has projected that one million properties will be needed to meet the growing demand for housing by 2028.
The deputy governor of the institution, Soledad Núñez, pointed out that the shortage of supply in the sector has led to a significant increase in prices, which have reached levels comparable to those of 2005. However, Núñez dismissed the idea that this poses an immediate risk to the financial system, as mortgage lending criteria remain prudent.
The deputy governor also highlighted that the groups most affected by this situation are young people and new residents in Spain. Since 1980, household disposable income has increased 1.8 times, while real housing prices have multiplied by 3.5 during the same period. In light of this evolution, she called for the implementation of effective supply policies to mitigate the problem.
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