Housing price in Spain moderates its growth to 1.6% during last quarter
The Spanish Ministry of Development has announced recently that the average price of homes in Spain has moderated its growth rise from April to June of 2017. So, the fast growth of previous months is slowing down.
The accumulated fall in housing prices in Spain since the maximum pick reached in 2008 is ion total of 27.2%. Even the better situation of the sector, the figures still far away from the reached a decade ago.
The square meter of homes in Spain kept its average price at 1,530 euros, which represents just an increase of only 0.3% compared to the previous quarter, and a 1.6% year-on-year increase.
According the data provided by the Spanish Ministry of Development, we are living the ninth consecutive quarter in which the residential market registers a price increase. Nevertheless, the second quarter of the year was more modest than the first quarter in terms of growth, when the housing prices rose 2.2%.
However, it is always important to consider that discounting inflation, the price of housing has felt by 0.4%. So, Spain still been an attractive market for national and international investors, and also for families or individuals with the financial capability to buy a property.
By type of home, the value of the square meter in houses of less than five years old reaches an average of 1,795.4 euros, which is 2.8% more than a year ago. In the meantime, the average price of the squared meter for homes built more than five years ago is 1,521.5 euros (just a 1.4% year-on-year increase).
By regions, the highest rise was registered in Catalonia (4.3%) and Madrid (3.5%). Also, the Canary Islands (3.5%) and the Balearic Islands (3.3%) was on the top of the ranking. On other hand, the regions that showed the biggest year-on-year declines were Aragon (-3%), Extremadura (-2%), Castilla y León (-1.7%) and Cantabria (-1.3%).