“If prices do not go down, we are going to see people living in bunkhouses

Buying a house or even accessing an affordable rental have become impossible, especially for young people and middle-income families. With this panorama, it is not surprising that more and more people are living with tight pockets and young people are forced to emancipate themselves much later.

Nobody comes up with the solution, not even the most experts. However, economist Gonzalo Bernardos warns that the problem will not be solved without direct government interventionwhich should offer legal certainty to owners and establish tax incentives that encourage more rental homes to be put on the market. Only in this way, he assures, could balance demand which far exceeds the offer.

The imbalance between supply and demand

According to the expert, the Spanish real estate market is experiencing a moment of constant tension. Despite the rise in interest rates, prices have not stopped increasing. This is due, in part, to lack of available housing and to the increase of foreign investment, which concentrates a good part of the purchases in large cities and tourist areas.

The European Central Bank has recently warned that house prices are overvalued by more than 14% compared to its real value, which confirms that the market is in a phase of overheating. This figure, furthermore, is three points higher than the previous yearindicating that the problem continues to grow.

Shared apartments and room rentals

Without greater supply, prices will continue to skyrocket and housing will continue to be unaffordable. In fact, the situation has led many young people to seek alternatives to be able to emancipate yourself. According to data from Idealista, the supply of rooms in shared apartments has grown by more than one 20% in the last year faced with the impossibility of renting or buying on your own. The economist has been clear on this point: “if prices do not moderate, we are going to see people living in bunk beds.”

Despite this outlook, Bernardos does not foresee a sudden drop in the market. According to his estimates, In 2025, some 780,000 homes will be sold in Spainand the figure could increase to 840,000 in 2026although prices will rise at a more moderate pace, around 8%. This slight slowdown does not mean that the problem is solved, but rather that growth will be more stable.