The authorities plan to introduce an “industrial construction model“, which will accelerate the construction of housing complexes and improve their quality. Within the framework of the public-private project Perte, it is planned to build 15,000 houses per year over the next 10 years, attracting additional investment from business.
Causes of the housing crisis
Rising rent prices and a shortage of housing have become key problems for Spaniards. Among the main factors are: growing demand for short-term rentals (especially in tourist areas), a shortage of vacant land for development in large cities, and a growth in the number of new households outpacing the pace of construction.
According to the government, the demand for new housing per year is about 300,000 units. In comparison, only 90,000 are currently under construction.
Additional measures
To reduce pressure on the real estate market, the authorities are taking two steps:
Restrictions on the purchase of homes by foreigners (up to 100% tax for non-EU citizens without a residence permit), Stricter regulation of short-term rentals (for example, Barcelona plans to ban them completely by 2028).These steps are designed to increase the availability of housing for locals and stabilize prices in the market.
Economic situation
The growth of immigrants in recent years has filled jobs and supported the country's economy, but has also increased pressure on the housing sector. Spain remains among the most popular destinations for tourists and expatriates, which continues to influence the demand for real estate.
The new construction program is aimed at a long-term solution to the problem, combining state funding, private investment and modern technologies for housing construction.
Detailed statistics on average property prices in Bulgaria by city and neighborhood can be seen HERE