The housing market in Spain: 2014-2019

Dirección General de Economía y Estadística
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Dirección General de Economía y Estadística: Banco de España

No 2013, Occasional Papers from Banco de España

Abstract: This paper describes the main features of the Spanish housing market during the latest expansionary period (2014-2019), and discusses two aspects relating to its recent situation. First, it analyses the evidence of households’ possible housing affordability difficulties. It finds that these difficulties have been exacerbated in recent years, especially for specific groups such as the young and low-income households, and particularly in certain zones, such as the major metropolitan areas. Next, it reviews the ensuing consequences from the standpoint of economic efficiency and of social challenges, analysing potential public measures that might be considered to alleviate these difficulties. Finally, it assesses the potential systemic risks associated with the residential real estate market, concluding that these were, at end-2019, more limited than those prevalent in the run-up to the financial crisis that broke in 2008.

Keywords: housing market; mortgage market; housing affordability; systemic risks; public intervention (search for similar items in EconPapers)
JEL-codes: G21 G51 R30 R31 R38 (search for similar items in EconPapers)
Pages: 50 pages
Date: 2020-05
New Economics Papers: this item is included in nep-isf and nep-ure
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https://www.bde.es/f/webbde/SES/Secciones/Publicac ... 20/Files/do2013e.pdf First version, May 2020 (application/pdf)
https://www.bde.es/f/webbde/SES/Secciones/Publicac ... s/20/Fich/do2013.pdf Spanish version (application/pdf)

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Persistent link: https://EconPapers.repec.org/RePEc:bde:opaper:2013e

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