The good moment of activity that the real estate market is going through, with rising prices and a volume of home purchases and sales at boom-era levels, is also driving the creation of new companies in the sector.
Specifically, the volume of new companies incorporated in the real estate sector has increased cumulatively until November 13.72%, compared to the same period in 2023. “This data keeps the real estate sector above the average for company incorporations,” explains Gesvalt, who points out that “as occurred in the previous quarter, the increase has been greater in the companies established dedicated to real estate activities, with a growth of 18.11%, compared to 8.01% for those assigned to construction.”
Regarding the volume of companies incorporated during the month of November of both years, the increase also exceeds the average, standing at 15.15% and “the growth in real estate activities being notably greater,” the report notes.
The high demand that the residential sector is detecting, especially in new construction, is being a key factor for the home construction industry is encouraged to increase production. Thus, the Real Estate Activity Registry Index, published by Registrars, presents an interannual increase of 2.2% during the third quarter of 2024, maintaining a level of activity higher than that of 2003, the year that is the basis of the index.
On the other hand, the number of new construction management visas during the first three quarters of the year reached 95,008 unitswhich represents an increase of 17.0% over the same period last year. Similarly, the volume of final construction certifications presents an increase of 9.6% in the accumulated amount of 2024, reaching the figure of 70,507.
The communities in which the most certifications have been carried out have been the Community of Madrid and Andalusia (with 23.23% and 23.20% respectively of the national total), followed by Catalonia (with 13.75%). Same regions that are in the top positions in the ranking of the volume of construction management visas, where we find Andalusia in the lead with 23.0% of the total, followed by the Community of Madrid (16.3%) and Catalonia ( 13.9%).
In the last update, corresponding to the year 2023, The national housing stock increased by more than 90,000 units, which represents an increase of 0.34% compared to 2022, the highest in the last nine years. The largest increase in the housing stock during 2023 was recorded in the Foral Community of Navarra, with an increase of 0.86%. Next is the Community of Madrid with a housing stock that grows by 0.61%; and the Balearic Islands, with an increase of 0.43%. All of them are regions with high demand from residential buyers and also from investors.
The foreign buyer is also gaining prominence in Spain, thus the Gesvalt report points out that “purchase and sale transactions carried out by foreigners in the third quarter of 2024 represented 18.4% of the total.” The communities with the highest percentage of transactions carried out by foreigners have been the Balearic Islands (38.0%), followed by the Valencian Community and the Canary Islands, with 35.1% and 31.3% respectively.
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