The price of housing in Spain increased by 2.7% on average in the second quarter of the year, compared to the same period last year, with the city of Barcelona, with an increase of 21.7%, at the Uploads.
According to the statistics of the Tinsa appraiser on local markets, this second quarter data confirms “the progressive recovery” of the residential market in Spain.
Nevertheless, they point out, the recovery “continues at different speeds” and they remember that the average value of the finished house in Spain (1,245 euros per square meter) is 39.2% cheaper than the highs reached in 2007.
The report also highlights the clear recovery of the city of Barcelona, where value has increased by 21.7% in the last year, to 3,094 euros / m2.
Driven by the strong revaluation of the districts of Ciutat Vella, L’Eixample and Sants-Monjuïc, Barcelona thus becomes the most expensive capital of the country, ahead of San Sebastián.
The director of the Research Service of Tinsa, Jorge Ripoll, attributes these increases to the investment pressure that are experiencing the most central and tourist districts.
Behind Barcelona, are Alicante, with a rise of 12.9%; Madrid, with a 10.8%; And Vigo, with 10.2%, the highest year-on-year increases in the second quarter.
Faced with this, the capitals of Castellón (12.6%), Toledo (9.4%) and Leon (5.6%) have the largest declines in the interannual rate.
“In 19 provinces and 18 capitals, statistics show declines … which, coupled with poor promoter activity and moderate mortgage concession, rule out that we are living a bubble at a general level,” adds Ripoll.
By regions, Catalonia and Madrid stand out from the rest with price increases of 11.3% and 9%.
The most marked declines are in the Basque Country (4.9%), La Rioja (4.6%) and Murcia Region (4.3%).
The Community of Madrid, with an average price of 1,925 euros per square meter, exceeds this quarter to the Basque Country as the most expensive region of the country.
The Tinsa study also notes that, on average, it takes 9.5 months to sell a house in Spain, terms that fall to 3.4 months in the city of Madrid and 3.6 months in the Barcelona
Font: El Economista