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The price of housing goes up in Madrid, Baleares,
Navarra and Extremadura in the third quarter
According to the Ministry of Public Works, in the third quarter of this year, the average price of private housing fell by 4.5 % year on year, being in 1495.3 Euros per square meter. This is 3.3 percentage points less than the decline experienced in the previous quarter (7.8%), remaining at 2004 levels. The price also reflects a decrease of 0.5 % quarter on quarter. Prices of new housing (up to two years old) decreased to a lesser extent, by 2.5 % to 1,564 Euros per square meter. However, in the case of used housing, annual decline was 5.2%, to 1472.7 Euros per square meter.
The adjustment of the Spanish property market continues and the price of homes has now 22 consecutive quarters of declines , but after almost 6 years of decline seems that the pace of this adjustment will moderate in general, and even rising in some communities as shown below .
According to the information of Development, during the third quarter decline was the smallest since the last quarter of 2010 when the market experienced a break because buyers anticipate their purchases by successive fiscal measures taken by the Government . But in addition, there are four regions in which the price of housing goes up: Baleares (+4.8 %), Navarra (+4.3 %), Extremadura (+2.8 %) and Madrid (+ 0.3%).
In the case of Madrid, the price had been steadily falling year on year throughout the crisis. Now after the third consecutive quarterly rise (0.6%) and prices rose 0.3 % in the last 12 months, compared to the annual rate of decline of 4% in the previous quarter.
No variation is the Basque Country. The largest price declines of free housing is located in La Rioja (-12.6 %) , Cantabria (-10.7 % ), Aragon (-10.5 % ), Asturias (-10.1 %) and Catalonia (-8.9 %).
For municipalities with over 25,000 inhabitants , higher prices per square meter are in San Sebastián ( 3,407 euros) , Getxo ( 3119.9 euros) , Bilbao ( 2657.6 euros) , Alcobendas ( 2618.6 euros) , Ibiza ( 2573.2 euros) , Calvia ( 2533.8 euros) , Leioa ( 2509.1 euros) , Sant Cugat del Vallès ( 2494.4 euros) , Basauri ( 2,493 euros) and Barcelona ( 2466.3 euros). The lowest prices in municipalities of over 25,000 inhabitants were recorded in Jumilla (591 euros), Elda (604.6 euros), Algemesí (630.9 euros), Ontinyent ( 655.3 euros), Tomelloso ( 660 euros) and Yecla ( 668.6 euros).
Source: Ministry of Public Image: elpais.com