The cranes and excavators return to the urban landscape and with them the hope that the serious crisis of access to housing can loosen at some point. More construction and more rehabilitation mean anchoring the abyss that now exists between supply and demand, which would help remove pressure from the market and avoid the strong price increases that collapse the lives of millions of people: the price of new housing fired 12.3% last year, its greatest rise since 2007, according to the INE.The return of cranes is still shy and is very far from the intensity of the intensity of the years of the bubble of the bubble of the bubble. Brick, but the long -awaited construction activity has resumed a certain pulse promoted by promoters, institutional capital, alternative financing and the public sector, with ICO initiatives and European funds. In fact, the building grows at the highest rate since 2008. “In 2024 a slight change of trend began to be received,” says Patricia García de Ponga, director of the residential sector of the CBRE consultant. «The market is moving in an adequate direction to recover the balance we need,» adds Juan Ramón Prieto, director of Operations of the Real Estate Solvia. For Marta Vall-Llosera, president of the Superior Council of the Colleges of Architects of Spain (CSCAE), they have influenced different factors in this rebound. Among them, «the correction of inflation and a decrease in interest rates that have favored internal consumption.» In addition, in April of last year a ministerial law was approved oriented to “favor the granting of rapid licenses, which has also contributed to accelerating the promoting activity and facilitating the implementation of new projects,” says Prieto. And in the case of rehabilitation, “the opportunity that aid programs have charged to European funds Next Generation and the tax incentives associated with said aid” must be highlighted, it ends Vall-Llosera. The data of the Ministry of Transportation and Sustainable Mobility Profiles this greater dynamism of the offer. The homes initiated (both free and protected) increased 16.7% in 2024 and reached 127,721 units, which represents the greatest rate of growth in 16 years. On the other hand, the end of the work certificates, that is, the finished houses, also improved: 97,837 homes (free and protected), 11.7% more than in 2023. The accelerón of the houses with some kind of protection, which carried in a coma a decade stands out. Although they are still very few, last year 14,371 were completed in Spain, which represents an interannual increase of 62% and represents the highest figure since 2014. Now well, for the moment the cranes are concentrated in the large population centers and in the most tourist destinations. Andalusia (with Malaga and Seville at the head), Madrid, Catalonia (with Barcelona first) and Valencian Community (with Alicante leading) are the regions where the most new work is being built. «The provinces of Seville, Madrid, Malaga, Barcelona and Alicante added 49.7% of the total new construction visas,» says Prieto. In addition, the bulk of these properties had the purpose of the sale, when the modality that the great push is the affordable rent. Only a quarter of the 14,371 protected homes finished in 2024 was destined for rent, Prieto recalls. «The rent still represents a little relevant percentage with respect to the new work visas. The lack of supply supply with respect to an increasing demand will continue to stress the market,» says García de Ponga. Rehabilitation is also at levels never seen and that Spain has one of the most aging parks most aged in the continent and is not very friendly of maintenance. «In 2024, 55,473 homes were visited for great rehabilitation, which represents an increase of 47% compared to 2023 and 117% if compared to the year before the Covid pandemic,» says Vall-Llosera.
There is on its way
It paints well and the forecasts are positive, but experts warn that the current building volume, although growing, remains insufficient due to the accumulated deficit, that the Bank of Spain figure in 600,000 between 2022 and 2025. In addition, the creation of households (111,500 in 2024, according to the INE), continues to overcome the number of houses finished (97,837), although it begins to approach. «We drag an annual deficit that, if the current production pace is maintained, could reach three million housing in 2039. We need to increase the construction of housing in at least 220,000 annually in the coming years to stop this deficit,» says Xavier Vilajoana, president of the Association of Promoters and Constructors of Spain (APCESPA). «It is not enough in the case of the new construction or in that of rehabilitation. This year 96,000 rehabilitated units should be reached and, from there, the rhythm would have to be raised progressively until reaching 300,000 homes in 2030. The goal is to rehabilitate 1,377,300 homes between 2021 and 2030. If we maintain the current rhythm, we will hardly achieve it,» says Vall-Los. This year the construction continues to rise. Caixabank expects 135,000 new construction visas in 2025 and 145,000 in 2026. However, they indicate that the new housing offer is probable below the creation of new homes. The CBRE consultant estimates 150,000 new construction visas in 2025, which would mean 17% more than in 2024. In Solvia, they expect these licenses to increase between 5% and 10% this year. However, the sector faces “the shortage of finalist land and an insufficient production chain, marked by the lack of labor in construction,” says García de Ponga. financing and providing enough budget for housing policies, promoting public-private collaboration and reaching a state pact in housing. ” There is much to do is the phrase that is most repeated in this sector.
