Thursday, January 4, 2018
News
The average price of new apartments continues to rise
2016 evidenced the first symptoms of recovery in the real estate sector after a complicated five years. 2017 was the year of the consolidation of good figures and 2018 will undoubtedly be the year of the consolidation of a sector with a high demand for the sale of flats that continues to rise. The second part of 2017 has yielded good figures for the real estate sector in the whole of Spain: the average price of new housing grows 3.3% in the main capitals, that is to say in the most populated and with the most powerful economies according to the Real Estate Trends report prepared by the Appraisal Society (ST).With this the cost of the square meter of these buildings at 2,227 euros per square meter, although the differences are significantly different depending on which city we are. This figure also doubles that recorded in the first half of the year (1.7%) and boosts the annual revaluation of new residential construction to 5%, the largest increase in the last decade.In the annual average, the price of new housing increases by 5%, the highest increase since 2007 and where prices in cities such as Barcelona and Madrid are already at pre-crisis levels. By cities, Barcelona continues to dominate, with 3,865 euros per square meter, followed by San Sebastián (3,441) and third in Madrid (3,167). The most economical provincial capitals are Badajoz (1,155), Cáceres (1,138 and Ciudad Real (1,160).Catalonia and Barcelona, ??leaders one more yearWhile by autonomous communities, also Catalonia, with 3,452 euros per square meter, is the most expensive. They are followed by Madrid (3,167) and the Basque Country (2,596). The cheapest in this sense with Extremadura (1,148), Murcia (1,206), and La Rioja (1,355) with the lowest new housing prices.Barcelona also has the most significant price increase with an annual growth of practically 10% per year (9.9%) and follows behind Madrid with a six-month rise of 6.8%.The aforementioned report also places the number of years of full salary that an average citizen needs to allocate for the purchase of a medium-sized home, in 7.6 years in the last quarter, that is four tenths higher than the one registered in 2016 that is It stood at 7.2.The Balearic Islands continues to be the community where it takes more years to access a home (14.7 years) while La Rioja is still the region where it is easier to access housing (4.9 years).