El Banco de España alerta: en 2028 harán falta un millón de viviendas

The Spanish banking authority, Banco de España, has warned that the country will need one million homes by 2028 to meet demand. The shortage of housing in the Spanish market has created an estimated deficit of 755,000 dwellings since 2021, a figure that could rise by another 300,000 units between 2026 and 2028, according to Soledad Nieves, the deputy governor of the supervisory institution.

Nieves stated that real estate prices have accelerated since 2024 to levels comparable to 2005. However, she ruled out that the market is facing the same risks as before the global financial crisis of 2008, as lending criteria remain prudent. The housing problem is an economic and severe social issue but is not currently affecting the financial system, the deputy governor explained.

The Bank of Spain identified two groups facing difficulties in acquiring property ownership: young people and new residents in the country. Nieves emphasized the need to maintain vigilance, implement effective supply policies, and uphold responsible credit standards; she also reminded banks that managing geopolitical risk must be a central concern in their agendas.