The participation of young people in the real estate market falls in the last year due to high prices and rates

In buying and selling, only the activity of the group between 35 and 44 years old increases, according to Fotocasa Research

MADRID, 8 Sep. (EUROPA PRESS) -

46% of Spaniards between 25 and 34 years old have taken some action in the real estate market, nine percentage points less than in 2022, when 55% of young people participated in the real estate market.

This is clear from the latest Fotocasa Research report "X-ray of the housing market in 2023", which warns about the impact of high prices and rising interest rates on the participation of young people in the real estate market.

But this age group of 25 to 34 years is not the only one that has decreased in terms of participation. The youngest stratum from 18 to 24 years old also falls, with a decrease in its participation of 10 percentage points compared to 2022. Thus, in this age group the 42% of young people who in 2022 had participated in the market went from 32%. % of 2023.

According to the real estate portal, these figures show that the situation of inflation and rising rates has affected all age groups when it comes to acting in the housing market.

"A general change in cycle despite the fact that some segments of the population, specifically those over 55 years of age, have not managed to recover pre-pandemic levels at any time," the report explains.

In this group (55-75 years old), the current activity in the housing market stands at 16%, a participation that is well below that registered before the outbreak of covid-19, when it reached 26%. %. Compared to August 2022, the difference is also important, since then it stood at 20%.

By focusing on the buying and selling activity, it is noted that the participation in the housing market owned by those between 35 and 44 years of age has increased. In this age group, buying and selling actions - whether supply or demand - have gone from 21% in August 2022 to 22% in February 2023.

In the rest, decreases are recorded, especially pronounced between 25 and 34 years old (from 30% participation in February 2022 to 25% a year later) and between 18 and 25 years old (from 15% to 10% in that same time frame).

Rental activity is also reduced, mainly in the most important age groups: those between 18 and 34 years old.

According to the latest participation data in the rental market, it is confirmed that young people between 18 and 24 years old who have carried out some action in the last year have decreased from the 34% registered in August 2022 to 27% current.

The situation has been very similar in the immediately higher age stratum, which is between 25 and 34 years old, with a contraction from 34% to 28%.