Demand for new construction in Madrid and Barcelona is increasing

Large cities are experiencing a significant increase in demand for new housing, as shown by surveys in the first quarter of this year. Due to rising rents, half of the Spanish population considers buying a property as the most profitable option. In Madrid, of the 5,457 new housing units registered in the 2016 census, there are currently 346. This represents a decrease of 93.7% in just two years. In the case of Barcelona, of the 2,793 new housing units registered in the census two years ago, there are now only 289, which represents a decrease of 90% in just two years. Experts believe that the supply of new housing could be exhausted in just 14 months, 12 months in the case of the municipality of Barcelona. As in Madrid, which needs more new housing to meet the growing demand, as prices could recover. The severe pause recorded by the construction sector during the worst years of the crisis could be the reason for this shortage of new housing completed in key areas such as Madrid and Barcelona, which also indicate an increase in sales prices.