The real estate market in Sitges continues to trend upward in both the sales and rental sectors. As we enter the next quarter, prices are expected to keep rising, driven by growing demand and limited supply—a scenario that mirrors the trends observed nationwide.
Sales Price Increases: Data and Expectations
In Sitges, as in many other parts of the country, an increase in the supply of properties for sale is anticipated. However, this seems insufficient to halt the price escalation. According to the latest data, the Real Estate Sensitivity Index (ESI) for sales has reached 68.8 points out of 100, a slight increase from the previous quarter, reflecting moderate optimism in the sector.
Nationally, housing prices have maintained an upward trend, and Sitges, with its tourism appeal and quality of life, is no exception. In fact, 54% of real estate professionals in Spain expect sales prices to continue rising, while only 3% believe they may decrease. These figures underscore the strength of the sales market, although there is also concern about a possible reduction in the supply of new properties, which could further limit the available inventory.
Rental Market: Tension and Rising Prices
The rental market in Sitges is particularly challenging. The supply of available rental properties continues to decline, leading to significant price increases. Nationally, the average rental price has reached €13.4 per square meter, representing a year-on-year increase of 13.4%.
In Sitges, this trend is evident in a highly strained market where demand far exceeds supply. The Rental Sensitivity Index has risen to 59.7 points, indicating that rental prices will continue to grow in the coming months. Nearly 48% of real estate agencies expect rental prices to keep increasing, while only 4% foresee a decrease.
This shortage of rental properties is partly due to the uncertainty felt by many landlords, who fear potential non-payments or legal issues, leading them to withdraw their properties from the long-term rental market. This situation has driven rents higher, making it increasingly difficult for tenants to find affordable options.
Comparison with the National Average
Compared to the national average, Sitges presents a more dynamic market with greater price pressures. While the upward trend is clear nationwide, price increases in Sitges tend to be more pronounced due to the high demand and limited supply of properties, both for sale and rent. This is because the city attracts both local and international buyers and tenants seeking an exclusive and high-quality living environment.
Prospects for Investors and Residents
For those looking to invest in Sitges, the current moment offers an interesting opportunity, as sales prices continue to rise and demand remains strong. However, tenants may face an increasingly competitive market with constantly rising prices.
At Living Sitges, our team is ready to guide you through this challenging market. With a deep understanding of local and national trends, we’re here to help you find the ideal property, whether for purchase, sale, or rent. Contact us today and discover how we can make your real estate experience in Sitges easier!