The purchase of a home has become one of the most worrying issues for Spanish society. The tall real estate price and the difficult access to mortgages is generating a climate of concern in future buyers, who have to do numbers and resort to tools such as a mortgage calculator to determine if they will be able to purchase their new home. After the last two years in which there have been no significant drops in housing prices, What are the forecasts for 2025?
The latest reports predict that in the final stages of 2024, a new rise of 3% in house prices in Spainsomething that would be maintained during the development of 2025. Therefore, everything suggests that next year will not be the time when prices in the real estate market begin to decline. One of the reasons that leads to these forecasts is the absence of new homesas well as the challenges that are being faced in the market for its constructionsuch as the price of raw materials or the lack of labor.
WHAT WILL HAPPEN TO MORTGAGES IN 2025?
With this forecast of a new increase in house prices by 2025, the big question is what will happen to mortgages. Now that the final moments of the year are approaching, experts are also analyzing the situation of the Euribor and its possible impact on the granting of mortgages. According to the forecasts estimated for next year, it is expected that The Euribor continues to fall, both in 2025 and 2026. In this sense, there should be a decrease to 2%. With this, variable rate mortgages are seeing their installments begin to drop, something that could follow the same trend in 2025.
For next year The Euribor is expected to drop from the current 2.5% to 2%allowing greater access to fixed-rate mortgages, whose highest profitability at this time is estimated to be around 2.5% interest. In this sense, Mixed mortgages are those that are beginning to gain more weight due to its initial flexibility and the possibility of changing to the variable fee in the future, following the expected gradual drop in the Euribor.
Therefore, even though house prices will continue to riseAccording to forecasts, during the next year, 2025 is presented as a great opportunity to buy a new home. Furthermore, it also aims to be a moment of respite for those mortgaged with a variable paymentexperiencing a decline that should continue to extend over the next few years, unless the situation changes drastically. After a period of containment and uncertainty in recent years, it now seems that a more suitable financial environment is beginning to be seen for the acquisition of a mortgage, at a time when there may be less competition and more possibilities for negotiation due to the lack of demand of recent times.
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