Despite these positive indicators, challenges persist:
- Housing Shortage: Spain faces a housing shortage, needing 225,000 new homes annually to meet demand.
- Empty Properties: The Bank of Spain’s 2023 annual report highlighted approximately four million empty properties, including unsold units and those in disrepair, underscoring inefficiencies in the housing market.
In summary, while Spain’s housing market benefits from a strong economy and proactive government measures, addressing affordability and supply challenges remains crucial for sustainable growth.
