The price of housing rose 7% year-on-year in October, its highest rise in three years, according to Fotocasa

A year ago, housing for sale cost less in 46 provinces and in eight out of ten Spanish cities analyzed.

The price of housing rose 7% year-on-year in October, its highest rise in three years, according to Fotocasa

A year ago, housing for sale cost less in 46 provinces and in eight out of ten Spanish cities analyzed

MADRID, 3 Nov. (EUROPA PRESS) -

The price of second-hand housing rose by 0.7% in October in relation to the previous month and by 7% in its interannual variation, placing its price at 2,025 euros per square meter, according to data from the Fotocasa Real Estate Index.

"This latest year-on-year value (7%) is the highest increase detected in the last three years (since May 2019)," the real estate portal said in its report. As they explain, the price of second-hand housing is increasing at an unusual rate and is presenting very significant and bulky increases.

The beginning of this escalation coincides with the change in monetary policy and the rise in interest rates, which, despite the fact that they intend to cool down the demand for housing, seem to have caused the opposite effect on citizens, at least temporarily , points out the Director of Studies and spokesperson for Fotocasa, María Matos.

Considering the prices of housing for sale compared to those of a year ago, in the 17 autonomous communities the year-on-year price increased in October and in two communities it exceeded 10%.

Specifically, in the Balearic Islands it rose by 12.5% ​​and in Navarra by 11.7%. They are followed by the communities of Madrid with 9.4%, the Valencian Community with 8.4%, the Canary Islands with 7.3%, Andalusia with 6.6%, Catalonia with 5.1%, La Rioja with 4.0%, the Murcia with 3.6%, Castilla-La Mancha with 3.3%, Aragón with 3.0%, the Basque Country with 2.4%, Extremadura with 2.3%, Galicia with 1.7%, Asturias with 1 .3%, Cantabria with 1.3% and Castilla y León with 0.1%.

Regarding the ranking of Autonomous Communities (CC.AA.) with the most expensive second-hand housing prices in Spain, Madrid and the Balearic Islands are found, with prices of 3,380 euros/m2 and 3,216 euros/m2, respectively.

It is followed by the Basque Country with 2,935 euros/m2, Catalonia with 2,648 euros/m2, the Canary Islands with 1,901 euros/m2, Navarra with 1,818 euros/m2, Andalusia with 1,817 euros/m2, Cantabria with 1,796 euros/m2, Aragon with 1,658 euros. /m2, Galicia with 1,654 euros/m2, Asturias with 1,570 euros/m2, Comunitat Valenciana with 1,553 euros/m2, La Rioja with 1,511 euros/m2, Castilla y León with 1,440 euros/m2, Extremadura with 1,170 euros/m2, Region Murcia with 1,166 euros/m2 and Castilla-La Mancha with 1,152 euros/m2.

On its side, the report reflects that in 92% of the 50 provinces analyzed the year-on-year price of housing rises in the month of October. In six provinces it exceeds 10%, specifically in Alicante it reaches 14%, Malaga 12.8%, the Balearic Islands 12.5%, Navarra 11.7%, Guadalajara 11.4% and Granada 10, 6%. On the other hand, the first three year-on-year decreases correspond to the provinces of Palencia with a fall of 5.8%, Zamora (-5.1%), Ourense with (-1.1%) and Salamanca with (-0.4 %).

In terms of prices, Madrid is the most expensive province with 3,380 euros/m2, followed by Gipuzkoa (3,265 euros/m2) and the Balearic Islands (3,216 euros/m2), among others. On the other hand, the province with the price per square meter below 1,000 euros is Ciudad Real with 981 euros/m2.

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