The price of housing increases by 3.3% in Spain

The price of housing increases by 3.3% in Spain

Gesvalt has published its Housing Report corresponding to the second quarter of 2021. In the study, carried out with its own data by the company's Research department, a 3.3% increase in the price of housing stands out compared to the same period of the year 2020. In this way, the downward trend of the last four quarters is broken and the average price approaches the stability expected by the experts, with a final figure of € 1,424 / sqm throughout the national territory.

In this sense, in general terms, if to acquire a home last year with a surface area of ​​90 sqm it was necessary to pay an average of up to € 124,020, currently, € 128,160 would have to be spent on its purchase.

The report published by Gesvalt also points to national demand as the main driver of the residential market in this last quarter. In the first three months of the year there has been a decrease in the number of home sales made by foreigners, whose weight in total operations has been 13.1%, compared to 13.5% registered during the previous quarter. In absolute terms, the number of purchases made by foreigners in the first quarter compared to the same period of 2020 has decreased by 8.8%, a figure that contrasts with the increase in the number of total purchases closed in the first quarter of the year. since this figure has increased by 3.5% compared to the same period of the previous year, to 130,270 transactions.

By region, the destinations of the coast and the Levante area continue to be the favorites of international buyers, since the communities with the highest percentage of transactions of this profile have been the Balearic Islands with 31.1%, followed by the Canary Islands and the Valencian Community, with 27.6% and 23.5% respectively.

Only Murcia and Galicia show decreases among all the Autonomous Communities

After a first quarter in which only seven autonomous communities presented increases in house prices, between April and June the increases have been generalized in all regions, with the exceptions of Murcia (-2.7%) and Galicia (- 0.2%).

On the contrary, the most notable increases were seen in the Community of Madrid (+ 3.6%) and Extremadura (+ 3.2%) while the Principality of Asturias, the Valencian Community and the Basque Country have shown increases between 3,0% and 2.0%.

Demand continues to opt for the periphery

As in the previous quarter, the trend to search for homes in the periphery continues, driven by the need for more spacious homes, including single-family homes, and the rise of teleworking. This trend has been reflected in the fact that, during the second quarter of 2021, the largest interannual increases in the sales price in the districts of Madrid were presented by Arganzuela (+ 3.1%), San Blas (+ 3.0% ) and Moncloa (2.8%). In Barcelona, ​​the neighborhoods of Sant Martí (+ 3.3%), and Sarriá-Sant Gervasi (+ 1.5%) presented increases. On the other hand, in Valencia these increases have been even more pronounced, especially in neighborhoods such as Quatre Carreres, Campanar and L’Olivereta. Finally, the Sevillian districts that have increased their price the most during the last quarter are Norte, San Pablo - Santa Justa and Bellavista - La Palmera.

The evolution of the rental price follows a more stable path

In general terms, rental prices have followed a much more moderate trend than the sale market, even with some downward trend. In fact, unlike the previous quarter, there is no province with rents above € 16 / sqm / month. Barcelona (€ 15.89 / sqm / month) has led the ranking in terms of higher rental prices, followed by Madrid (€ 14.96 / sqm / month), Guipúzcoa (€ 14.30 / sqm / month) and Balearic Islands (€ 13.07 / sqm / month). On the other hand, the provinces with the least tendency to rent and, therefore, lower incomes, are Jaén,
 Zamora, Cuenca, Teruel and Cáceres; all with rental units below € 5 / sqm / month.

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