General Forecasts
2019 marked a turning point. During this last year we have seen how prices per square meter in Spain, despite growing, have done so at a much slower pace. And according to the opinion of the experts, 2020 is not going to be any different. Moderation is a fact and for this year it will be even more relevant.
Several studies and professionals indicate that growth for this 2020 will be between 2% and 4% . A growth similar to that of annual salary increases . Something that, of course, those who want to choose to buy real estate this year will appreciate . However, everything will depend on the law of supply and demand. For this reason, the Madrid 2020 house price forecast may be somewhat different from that of the Spanish average.
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Big cities will continue to be Trending Topic
One thing is the general forecasts and another, different, are the specific ones. In certain parts of the country, the demand for housing continues to rise . The popularity of large cities compared to the most remote areas is a fact and in 2020, the trend will not change. Buying a flat in Madrid is still a Trending Topic . The consequence of this is that the Madrid 2020 house price forecast is to grow more than in other areas of the state.
Graph: Evolution of the average appraised value of free housing in the city of Madrid. From 2010 to 2019. Data Source: Ministry of development.
Madrid will not be the only city where prices will continue to grow. Barcelona, Valencia, Palma, Malaga or the Canary Islands are some of the areas where demand will keep prices rising. However, growth will not be as strong as in previous years.
Housing price forecast Madrid 2020: Stressed areas
Generally speaking, the growing demand will drive up house prices in Madrid . However, in certain areas of the city prices have reached their highest. The Madrid 2020 house price forecast in these parts of the city is that they remain or even fall on time.
In 2019 it took place in Barcelona. It was the first city where prices began to rise after the crisis and this has caused some prices to reach a ceiling already in 2019. The similarities between Madrid and Barcelona are several. They are both big cities and their price growth started early. This makes us think that the Madrid 2020 house price forecast may resemble that of Barcelona 2019. If not in general, at least in some specific areas of the city.
Madrid 2020 house price forecast: The key is in the young
For the best Madrid 2020 house price forecast to be fulfilled, it is necessary to stimulate demand . In this sense, one of the groups with the greatest potential to make it grow are young people. Many have the ability to pay but not to save and that prevents them from having a home. If this paradigm is reversed, we could say that the future of the property market in Madrid and in the rest of the state is guaranteed. So, if you are young and need to buy a flat , Housfy is the solution. Find your ideal apartment on our website and let our mortgage advisers find you the best mortgage .
Resources:
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Guide to Sell a Property Without Real Estate Agent
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