Monday, March 4, 2019

The price of housing, at its highest level since 2012

The price of housing, at its highest level since 2012

According to Development, the cost per square meter is close to 1,619 euros although it is still 23% lower than the levels of 2008 before the crisis

   The real estate market continues the "orderly" recovery that has been recorded for the last four years, according to most analysts. And the latest official statistics confirms this, as the Ministry of Development announced on Thursday that the price of housing closed the year with its highest level since early 2012.

Between October and December, the cost indicator for free housing increased by 3.9% - the highest quarterly rate since 2007 - to 1,618.8 euros per square meter. In this way, it has fifteen quarters on the rise, a streak that has followed a decline that seemed almost unbridled in another 26 quarters, followed, that is, six and a half years.

   The rise of the end of 2018 more than tripled inflation, so that even discounting the CPI the houses would have increased their price by 2.2%. If compared with the minimum value reached in autumn 2014, its value would have recovered by 11.2% and continues to rise. However, it would be 23% below the historical maximums that were recorded in 2018, and even 33% less in deflated terms.

Although there are different statistics of real estate prices, the Development is based on appraisals of about 137,500 houses made by the companies of the Association of Value Analysis. And his analysis confirms the thesis of a country at various speeds in terms of housing, with the two major capitals and the Mediterranean coast at the top.

San Sebastián, the most expensive
Thus, the provinces of Madrid and Barcelona concentrated in 2018 twelve of the 20 most expensive locations to have a house owned in Spain. After them appear the Basque Country and the Balearic Islands, with four municipalities each among the most sought after.

The city with the highest value is San Sebastián with 3,599 euros, more than twice the national average, followed by Ibiza (3,537) and Barcelona (3,628). On the opposite end appear Elda (Alicante), with 578 euros, and Jumilla (Murcia), with 593.

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