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In the third quarter of 2024, the supply of homes for sale in Spain decreased by 10 per cent compared to the same period last year.
The figures are according to a report by idealista.
This trend is particularly notable in various cities across the Valencian Community, including Alicante, where the housing market is feeling the pinch.
Decline in Availability
Across Spain, 48 provincial capitals are experiencing a decline in housing availability, with significant reductions in cities like Madrid (-23 per cent) and Barcelona (-19 per cent).
In the Valencian Community, Alicante has seen a notable drop of 11 per cent in the number of homes for sale, following a larger decrease in Valencia itself (-28 per cent).
The housing supply in Alicante reflects a broader provincial trend where fewer homes are on the market.
This decrease in availability aligns with similar patterns seen in neighbouring regions.
For instance, while Valencia leads the way with the largest decline, Alicante’s reduction signifies a growing concern for potential homebuyers in the area.
In comparison, the province of Alicante has experienced a 3 per cent increase in its housing stock over the past year, which is a slight respite in the context of an otherwise tightening market.
Ongoing Trend
Francisco Iñareta, spokesperson for idealista, highlighted several underlying issues contributing to this ongoing trend. He noted that despite a general increase in housing availability across Spain over the past decade, there have been significant barriers to new developments.
Factors such as a lack of foresight in land development, high construction costs, and regulatory challenges have resulted in a constrained housing supply.
