The rental crisis drives home buying again

The housing market is experiencing a resurgence in sales due to a rental crisis, with transactions increasing by 3.4% in August compared to the previous year. New homes saw a 4.9% rise, while second-hand homes grew by 3%. Regions like Catalonia and the Basque Country reported significant increases in sales, while Madrid faced declines due to high prices. The lack of rental properties is pushing people towards buying homes, despite challenges such as rising prices and limited availability. The average mortgage amount reached a historic high of €181,285, with interest rates also climbing. Experts predict a gradual moderation in the market, emphasizing the need for more affordable housing options.