Spain real estate confidence hits a two‑year low as tight housing supply and slower sales weigh on the market; nearly half of agencies expect prices to stay stable.
Spain real estate confidence has dropped to its lowest level in two years, driven by a persistent shortage of available homes and a slowdown in sales, according to the Real Estate Sensitivity Survey (ESI) published by idealista.
Key indicators show a broad decline: the purchase-and-sale confidence index fell to 64.6% (down 6.9 points), while rental confidence slipped 3 points to 56.4%. This marks the third consecutive year of easing confidence among agencies surveyed.
Supply constraints are the sector’s main headache. Nearly three in ten agencies (29%) expect to sell, at most, the same number of homes this quarter, and 21% plan to sell fewer homes between January and March. Faced with limited product, almost half of respondents (49%) believe prices will remain stable this quarter, 40% expect price increases and just 8% predict decreases.
The rental market is similarly strained. Thirty-one percent of agencies say they no longer attract homes for rent, and 25% expect to attract fewer rental properties in the coming months; only 20% expect to attract more. Expectations for rent growth are also cooling — just 35% of agencies now foresee rent increases, down from 45% last quarter.
Taken together, the ESI findings point to a market shaped more by scarce supply than by sharp shifts in pricing. For buyers and renters, limited inventory may continue to constrain choices; for sellers and landlords, the outlook suggests steady rather than rapid price gains. Policymakers and industry players will likely watch supply-side measures and financing conditions closely as the sector navigates a cautious start to the year.
