The price of second-hand housing in August recorded the highest annual increase in the last 10 years
- The price of housing increased by 4.9% in August, the biggest rise since May 2007 (5.4%)
- Baleares (16.2%) and Catalonia (11.6%) communities most interannual increase the price
- The price of second-hand housing stands at 1,708 € / m2 in August
- Zaraut in the Basque Country is the most expensive city to buy a second-hand housing
- In Madrid the price increases in 19 districts and seven climbs Barcelona
The average price of resale property in Spain is in August at 1,708 € / m2 and recorded an increase of 4.9%, the biggest annual rise recorded in the last ten years, according to data from fotocasa real estate portal. It was in May 2007 when a similar increase this month, namely the price rose 5.4% yoy was recorded. August this year increase is also the eleventh consecutive recording the Real Estate Index fotocasa.
Compared to year increase by communities, the price rises in 12 of them. The sharpest increase is in the Balearic Islands (16.2%) and Catalonia (11.6%), the only communities climbing with values above 10%. Followed Canary (5.6%), Andalusia (5.4%), Castilla-La Mancha (4.7%), Madrid (4.2%) and Extremadura (3%).
“The housing market is seeing activity levels not seen for ten years as a result of the improving economy and employment ago, as well as a return of confidence in the sector. As a result of all this are rebounding prices, although they do so at a very different pace depending on the area of the country .
However Toribio recalled that “despite the bulky growth in number of mortgages, purchases and prices, the sector is still far below those of the years of greatest splendor industry levels.”
As for the monthly increase in August price rises by 0.5% compared to July and also it increases in 12 regions Balearic the head with bulkier monthly increase, namely 1.4%.