The price of second-hand housing rose 0.9% in the first quarter of the year

The price of second-hand housing rose 0.9% in the first quarter of the year

Posted by on May 18, 2017 in News

  • This is the highest quarterly increase recorded in a first quarter since 2007
  • The price of housing is increased in 13 autonomous communities
  • The price rises in 18 districts of Madrid and in all of Barcelona

The price of second-hand housing in Spain rose by 0.9% in the first quarter of the year and puts the price, at March 2017, at € 1,664 / m2, according to data from the Real Estate Index fotocasa . It is the sharpest increase recorded in a first quarter of the year since 2007, when the price increased by 1.6% .   In fact, in 2016 all quarters increased the price of second-hand housing, with the exception of the second quarter.

“For the sixth consecutive month the index recorded in March an annual rise in prices reflecting the cost of housing is normalizing after a deep crisis. But this recovery is occurring by areas, as while Madrid, Catalonia, the islands and neuralgic points of the Mediterranean coast record price increases, much of the country continues the numbers red, “explains Beatriz Toribio responsible for studies of Photo house

Quarterly evolution of the price of second-hand housing

 

The second highest year-on-year increase in the last ten years

On a year-on-year basis, the price of second-hand housing in Spain increased 2.2% and is the second highest year-on-year increase since August 2007, when the price rose 2.7%. In fact, last February was the highest year-on-year increase of the last 10 years (3.2%). In addition, in March, the sixth consecutive increase in terms of year-on-year variation is recorded.

“The messages about the recovery of the housing market that are launched from part of the sector, are filling the population and so we see that the offer prices show slight increases compared to previous years. It is true that the sector is reactivating, but has not yet recovered and there are still many risks that haunt the sector, such as bulky housing stock, lower population growth or precarious employment, “adds Toribio.

The price of housing in Spain reached its historical peak in April 2007 with a value of € 2,952 / m2. Since then it has accumulated a decrease of -43.6%. The communities that experienced a major fall from the highest are La Rioja, with an accumulated decrease of -56.1%, Castilla-La Mancha (-52.5%), Navarre (-52.4%), Aragon (-52% ), Murcia (-50.2%), Comunitat Valenciana (-47.6%), Catalonia (-46.6%) and Asturias (-46.1%).

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