House prices back to 2004 levels

House prices back to 2004 levels

This is one of the conclusions in a report from Coyuntura Inmobiliaria 2017, which today revealed its contributors as the valuers Euroval and their ‘Instituto de Análisis Inmobiliario’ (Institute of Property Analysis). According to data published in the report, comparison between the years 2015 and 2016 continued to reveal no pattern in price behaviour per square metre, as these rose and fell depending on the region, in response to local market characteristics.

In absolute price terms, and at the national level, the minimum and maximum prices per square metre in 2016 were 599 and 2,886 euros respectively, with little change compared to 2015. Euroval and the Institute’s report point out that, “This development is due to the market situation, which is showing relatively low levels of transaction

Euroval’s report also states that the upward trend in the volume of house sales in Spain “could be considered sustained”, despite the intensity of the incipient real estate boost, due principally to the sale of ‘used’ houses. This situation may explain, in the opinion of the report’s authors, the slow reduction in the stock of new housing, for one reason, and the lack of marketing and promotion, for another. In fact, the report continues, “for each new house sold in Spain, there are eight sales of ‘second hand’ houses

All together, the number of houses sold in Spain in 2016 grew 13.9%, a total of 457,000 units. Cataluña and the Balearics are the two autonomous communities where house sales grew most from 2015 to 2016, at 20%.


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