Trends in the real-estate market during the second quarter of 2022

No. 14 - June 2022

Highlights of the quarter: April - June 2022

Gloval publishes its latest issue of the Gtrends Report for June 2022. Here are the highlights. You can download the full report from this link:

This new report on the economic landscape and the analysis of the real-estate sector mainly reveals an environment marked by uncertainty and a trend shift in the main European economies, including Spain, where growth moderated in the first quarter of 2022, mostly caused by the weakening of household consumption. Inflation remains high due to energy prices and their impact on all consumer products. In the short-medium term, the level of uncertainty in the economy in general is likely to increase and will affect in one way or another demand and the production sectors.

The real-estate sector keeps its moderate growth trend, where the different segments in it (residential, real-estate logistics, retail, offices, hotels, alternatives) continue to grow moderately. In the medium term more than the short term, we will see a slight drop in mortgage loans and house sales given rising rates.

Real GDP and Appraised Value of Unsubsidised Housing.

PIB Real y Valor Tasado Vivienda Libre
Chart 1: Real GDP and Appraised Value of Unsubsidised Housing. (YoY variation, 2007 – outlook 1Q. 2022).

Residential environment

House mortgages in Spain

The chart on mortgages shows their trend since 2007, where we remark on the fact that there were more house mortgages than sales until 2012. This may be because owners signed more mortgage securities on existing assets for refinancing purposes, to provide additional securities, and also sales during the harshest part of the crisis dropped dramatically.

Hipotecas constituidas y transacciones sobre Viviendas
Chart 2: Mortgages granted and house sales. Number. Total.

General environment

Nursing homes in terms of appraisals.

The nursing home segment is also important to take into account, as a real-estate asset that will show a significant expansion in the coming years. The chart below explains the possible causes of this growth.

Chart 3: Forecasts. Population 2040. Spanish Statistics Institute.

Our experience in appraisals

A real-estate segment of its own: Self-Storage Facilities

Lastly, we would like to highlight the private Self-Storage appraisals which, although the trend has been building over time, does show an increase in the development of this type of assets, given the need to store goods and chattels because of the lack of space in many houses because of their age or design.

Valoraciones realizadas por Gloval: Trasteros para particulares
Chart 4: Appraisals conducted by Gloval: Private Self-Storage Facilities


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