The prices of used housing do not glimpse respite. In three provinces, prices are accelerating above 15% year-on-year in fact, according to a Pisos.com study published this Wednesday. The lower margin for families and the new legal framework can lead to a change in the cycle in prices, it is assured, but for the moment it has not been reflected.
On average, the square meter stood at 2,043 euros in April, 1.35% more than in March. Year over year it rises 7.22%, above the 6.55% of the first quarter. The Balearic Islands, Madrid and Gipuzkoa are the most expensive provinces, with Ciudad Real or Jaén at the other end.
Despite the fact that mortgages have become difficult with the rise in interest rates, "the value of the square meter does not stop rising," says Ferran Font, the portal's director of studies.
The cooling of prices will have to wait. "The logical thing is that the rallies soften, and that they abandon double-digit percentages because they are not sustainable," he points out. A Euribor that continues to rise, the depletion of household savings and persistent inflation will help alleviate the pressure, he lists.
There is one last factor to take into account that can accelerate a change in trend. The new housing law. "It could stop investment buying and selling and, therefore, indirectly push prices down by reducing pressure," he says. Limiting rent increases will disrupt profitability and lower investment appeal, she argues.
Buyers are looking forward to any corrections. At the regional level there is not one compared to last year. Prices rise more than anywhere else in the Balearic Islands (20.3%), the Canary Islands (12%) and the Valencian Community (11.8%). The Balearic Islands also takes the medal for being the most expensive, with 4,045 euros per m², with Extremadura as the cheapest (804 euros/m²).
Among the provinces in April there were hardly any price falls in Toledo (-1.53%), Huesca (-1.29%) and Córdoba (-0.56%). The cheapest are in any case Ciudad Real (654 euros/m²) and Jaén (708 euros/m²). The largest increases were located in the Balearic Islands (20.3% mentioned), Santa Cruz de Tenerife (16.84%) and Alicante (15.94%). After the Balearic Islands, the highest costs are in Madrid (3,441 euros/m²), Gipuzkoa (3,356 euros/m²), Barcelona (2,973 euros/m²) and Vizcaya (2,863 euros/m²).
Going down to the detail of the capitals, the most expensive prices are in San Sebastián (5,754 euros per m²), Madrid (4,562 euros/m²) and Barcelona (4,446 euros/m²), but where prices rise the most is in Palma de Mallorca ( 19.21% and which also exceeds the level of 4,000 euros), Alicante (18.22%), Santa Cruz de Tenerife (15.47%) and Huelva (15.35%).
Jaén and its 1,100 euros/m² mark the lowest cost, with Ciudad Real (1,117 euros/m²) and Lleida (1,205 euros/m²) behind.
