South Costa Blanca Property for Sale
The price of housing in Spain rises more due to the prices of large cities and the Mediterranean coast
Specifically, housing increased in the fifth month of the year by 6.1% in capitals and large cities compared to May 2016, while the Mediterranean coast recorded a growth of prices of 4.7%.
The average price of finished, new and used housing rose by 3.6% in May compared to the same month in 2016, driven by capital cities and large cities and the Mediterranean coast, according to a Tinsa report, which states that Average price of housing in Spain is already at December 2013 levels.
In the first five months of the year, the Mediterranean coast recorded an increase in the price of housing of 6.1% compared to the end of 2016; In the capitals and big cities the rise is 5%; In the Balearic and Canary Islands reached 4.2%; In the rest of municipalities the revaluation is of 1.7%, and in the metropolitan areas the increase is of 0.4%. On average, the price of the house experiences until May a growth of 3.4%.
Even with prices rising, the market recovers from declines in the years of the crisis.
From the maximum prices recorded in 2007, the average price of housing in Spain accumulated a decrease of 39.2%. The Mediterranean coast continues to top the falls (-45.6%), followed by metropolitan areas (-44.5%) and capital cities and large cities (-41.3%).
The areas where the lowest housing prices have been adjusted since 2007 are the Balearic and Canary Islands (-27.7%) and the rest of municipalities (-35.9%).
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