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January 13, 2017

The price of new housing in Spain rose by 3.3% in 2016

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The price of new housing in Spain rose by 3.3% in 2016

The average price of new housing in the capitals of the provinces of Spain increased by an average of 3.3% during 2016, according to the official valuation company "ST Sociedad de Tasación". Therefore, the price of 1 m2 has been set at 1,555 euros / m2, which means about 190,800 euros for housing of 90 m2 in Spain. This increase has become the fourth consecutive during the recent quarters. The appraisal company ST also believes that in 2017 will continue the positive cycle of the new growth of real estate prices in Spain.

In addition, the ST Valuation Company has presented its annual "Report about new real estate in 2016", which includes data on the availability of new residential properties in all capitals of Spanish provinces and in major cities with a population of more than 25,000 habitants. The ST Company, which carries out this study since 1985, surveyed the availability of more than 48,000 different types of real estate objects, belonging to 3,200 construction companies in Spain.

In the second half of 2016, the average price of new housing in Spain increased by 1.9% in the capitals of the provinces of the country, reaching a value of 2,120 euros / m2. According to published report, the price of new real estate rose in all of the Spanish capitals in the period from July to December 2016, although the changes were not uniform.

On the top of the list are situated the capitals of Spanish provinces of Barcelona (3,518 € / m2), San Sebastián (3,327 € / m2) and Madrid (2,966 € / m2), which continue to be an example of price increases for new properties in Spain at the national level. At the same time, Ciudad Real (1,153 € / m2), Badajoz (1,140 € / m2) and Caceres (1,127 € / m2) are the capitals of the provinces that registered the lowest rates. The most significant price increases occurred in the two large capitals of Spain: Barcelona and Madrid, with growth during the second half of this year of 3.8% and 2.8%, respectively.

Statistics on the autonomous communities of Spain, in addition, indicate that Catalonia (3,164 € / m2), Madrid (2,966 €  / m2) and the Basque Country (2,532 €  / m2) registered the highest prices for new housing in the second quarter of 2016. Meanwhile, Castilla-La Mancha (1,372 € / m2), La Rioja (1,336 € / m2), Murcia (1,196 € / m2) and Extremadura (1,135 € / m2) were the autonomous communities with the lowest prices for new houses and apartments in Spain.

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