MADRID, 6 Mar. (EUROPA PRESS) -
The price of second-hand housing in Spain registered a year-on-year rise of 9.9% in February, the most pronounced increase since August 2006, although monthly growth has slowed to 1.2%, according to data from the 'Real Estate Index' of Fotocasa.
The price of housing has increased in all the autonomous communities in February and there have been four regions with double-digit interannual increases: the Balearic Islands (20.2%), Navarra (17.5%), the Canary Islands (14.7%) and the Valencian Community (11.1%).
On the opposite side, the least pronounced rises have been registered in Asturias and Castilla y León, with an increase of 1.2% in both cases, followed by Aragón (2.3%) and the Basque Country (2.9%).
"This acceleration has been produced by the change in monetary policy due to the rise in interest rates by the European Central Bank (ECB), which has caused the purchase demand to resurface and put pressure on prices due to the shortage of supply ", has pointed out the Director of Studies and spokesperson for Fotocasa, María Matos.
Thus, the average home purchase price stood at 2,086 euros per square meter in February 2023, with the Balearic Islands and Madrid being the most expensive provinces, with prices of 3,466 and 3,422 euros per square meter, respectively.
Castilla-La Mancha (1,151 euros per square meter), the Region of Murcia (1,200 euros per square meter) and Extremadura (1,233 euros per square meter) were the cheapest communities, and the only ones with prices below 1,400 euros per square meter.
The average price of housing has increased in 88% of the Spanish provinces in the month of February, with the islands leading the increase, since the price has risen 20.2% in the Balearic Islands and 19.1% in Santa Cruz from Tenerife. Navarra (17.5%), Alicante (15.4%), Cádiz (14.3%) and Málaga (14%) have been the following.
On the opposite side, the price of housing has only fallen in the provinces of Palencia (-3.5%), Zamora (-1.4%), Orense (-0.3%), Soria (-0.2 %), Burgos (-0.2%) and Jaén (-0.1%).
The Balearic Islands was also the most expensive province, with 3,466 euros per square meter, followed by Madrid and Guipúzcoa, with 3,422 and 3,228 euros per square meter, respectively. The cheapest prices were registered in Ciudad Real, the only region below 1,000 euros per square meter.
On the other hand, nine out of ten Spanish capitals have registered year-on-year increases in house prices in February 2023, with Palma de Mallorca (21.6%) and Alicante (18.3%) leading the way. Palencia (-2.4%), Huesca (-1.8%) and Soria (-0.9%) have presented the greatest decreases.
Regarding prices, the most expensive provincial capital was San Sebastián, with 5,650 euros per square meter, followed by Barcelona (4,352 euros) and Madrid (4,277 euros).