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July 12, 2016

The price of new housing rises in Barcelona and Madrid

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The price of new housing rises in Barcelona and Madrid

The average price of new real estate increased by 4% in June 2016 compared to June 2015, in cities like Madrid and Barcelona, ​​according to data from the ST Society of Valuation. Therefore, these two cities are the capitals of the Spanish provinces with the highest increase in prices of new properties in Spain during last year. This price increase has not been registered in the other capitals of the provinces due to the shortage of new housing, said the experts of the company ST. "The analysis of the data and an upward trend in prices observed in the market since June 2015, makes possible to foresee that, albeit slowly, but Barcelona and Madrid will push the process of recovery in prices of new real estate in Spain".

 


 

If we look at the data in more detail, then we can say that Barcelona is the capital of the Spanish province with the highest value of new properties, i.e, an average of 3,390 euros per square meter. The increase in prices was by 2.2% in the first half of 2016, while the annual growth rate in prices of new housing is by 4.1% and is the highest rate of all the provincial capitals of Spain .


Among the neighborhoods of the Catalan capital, Gracia registered the highest growth in prices of new real estae in Barcelona, ie at 7.72%. It is followed by the areas of Sarria-Sant Gervasi and Sant Martí, with 6.94% and 6.38%, respectively. At the other end of the ranking are situated the areas with a lower percentage of growth in prices of new properties in Barcelona, ​​such as Ciutat Vella (1.33%), Sant Andreu (1.93%) and Nou Barris (2 , 33%).


In addition, the Sarria-Sant Gervasi not only has the highest rate of growth in prices of new housing in Barcelona, ​​but also recorded the highest average price per built square meter, i.e. 5,672 euros per meter square. The districts of Les Corts and Eixample are on the second and third place, with values ​​at 4,610 € / m2 and 4,511 € / m2, respectively. In contrast to these parts of the city, the lowest prices you can find in the districts of Nou Barris (2,721 euros), Sants-Montjuïc (3,024 euros) and Sant Andreu (3,062 euros).


In the case of the capital of Spain, we can say that the prices of new residential property increased by 4% compared to the previous year and by 2.1% in the first half of 2016. Therefore, the average price of new housing in Madrid is 2,886 euros per square meter.


The neighborhood of Salamanca, like last year, is the most expensive in the Spanish capital with 4,799 euros per square meter, followed by the district Chamberí (4,626 euros / m2) and the center of the city, with an average value of 3.939 euros / m2. By contrast, the areas of Vicálvaro, Villaverde and Vallecas have the lowest prices of the new property, i.e. 1,856 euros / m2, 1,883 euros / m2 and 2,203 euros / m2, respectively.

 

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