Frequently, we analyse what is happening in the housing market. The year 2024 has represented two very distinct
trends. It has been a year of clearly growing activity in the sales market, and the complete opposite in the rental
market. The sales market has shown remarkable dynamism, both in the second-hand and new-build sectors, with
the growth in activity closely tied to the decrease in interest rates.
The sentiment after each analysis, whether in our reports or our opinion notes, is that we keep repeating the same
thing, but with the starting point of each analysis being that the situation is somewhat worse.
When we assess the concept of “worse,” we do so from the perspective of housing accessibility, and this accessibility,
simplifying things greatly, has two variables: price and available supply. As long as these two are not balanced, the
concept of accessibility will not become a minimal reality. In 2024, the price variable has been intervened in the rental
market, while supply has continued its decline.
