Tag #Real Estate Bubble

What is the primary cause of Spain's record-high housing prices in 2024, and what are the immediate consequences?

The average housing price in Spain reached €2,086 per square meter in 2024, a record high. This surge is primarily due to a decade-long housing shortage resulting from post-2008 austerity measures that severely restricted construction and credit availability. The current situation differs from the 2008 bubble; there's no significant increase in mortgage credit.