VALENCIA. The rental market has been one of the main protagonists of 2023 due to the increase in prices. Some rises that have made accessing a full apartment an impossible mission in most Spanish cities. And València has not been an exception, since the average price is already close to 1,500 euros per month in many neighborhoods of the city. As a result of this situation, many families and young people have had to resort to sharing flats, making renting rooms a trend.
In addition, the offer does not stop going down, which makes searches even more difficult. Only comparing the second quarter with the third of this year, the number of apartments available in the ‘cap i casal’ had decreased by 37% . The motives? The rise of tourist apartments, the arrival of foreigners and digital nomads with higher salaries than locals and the lack of new products on the market. But, also, the fear that the Housing Law has caused and that has led many owners to withdraw assets.
A cocktail that is straining the market and making access to housing difficult. And, unfortunately, experts predict that this situation will continue throughout 2024, which is why they ask the Administration to take measures and promote public-private collaboration that will allow the lack of product to be reversed. Valencia Plaza speaks with six experts from the Valencian real estate sector to find out their forecasts.