The price of second-hand housing rose 1.3% in the third quarter of the year
- The price of housing increases quarterly in 12 communities
- Interannually, the price increases by 4.8%, the largest increase since May 2007
- The price of second-hand housing rises in all districts of Madrid and in eight of Barcelona
The price of second-hand housing in Spain is 1.3% higher in the third quarter of the year and puts the price at € 1,716 / m2 in September 2017, according to data from the Real Estate Index fotocasa.
The increase in this third quarter of the year is the fifth consecutive that has registered the real estate index fotocasa. Thus, the price of second-hand housing began to increase quarterly just a year ago, in the third quarter of 2016, with an increase of 0.9%, and since then has not stopped growing quarterly.
“The real estate sector has taken a lot of strength since the beginning of the year and that is shifting to prices, which are registering increases that we did not see since the years of greater splendor of the sector. But we must not forget that we come from very low and because of that, these increases are so high and not all areas are experiencing this recovery with the same intensity, since the activity is concentrating on large squares, “explains Beatriz Toribio , responsible for Studies of fotocasa
The highest annual variation is recorded since May 2007
On a year-on-year basis, the price of second-hand housing in Spain increased by 4.8% and is the highest year-on-year increase recorded in the historical real estate index since May 2007, when the price grew by 5.4%. In addition, this is the twelfth consecutive increase in year-on-year changes. And since last October 2016, the year-on-year change has continued to increase, reaching 4.8% in September 2017.
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 -41.9%. The communities experiencing a major fall from the highest are La Rioja, with an accumulated decrease of -56.9%, Navarre (-54.1%), Castilla-La Macha (-51.9%), Aragon (51.6% %) and Murcia (-49.7%).