After a prolonged period of hard adjustment, the value of the homes recovers the levels it had in 2004, but with half of transactions that year.
The variations between 2015 and 2016 are not significant, so it is possible to speak generally of a stability in the value of the residential assets. Thus, during 2016 the minimum prices per square meter increased in 29 provincial capitals and the maximum prices did in 27 other cities (with Barcelona, Madrid and Bilbao as more prominent cities), while in 18 capitals coincided increases of both maximum and minimum prices .
In absolute terms and at national level, the minimum and maximum prices of the square meter were in 2016 at 599 and 2,886 euros, with a small increase, compared to 2015, of 1.8 and 1.1%, respectively. This development may be due to the market situation, which remains relatively low in terms of transactions. In this way, the period of decline in the value of the housing has practically ended in relation to the average prices of the biennium 2006-2008, which correspond to the highest in the series.
However, it points out that this adjustment will continue to occur, although in a more moderate and specific manner, spatially, by type of dwelling, and with occasional differences depending on whether it is minimum or maximum prices. In 2016 has been the case, for example, of San Sebastian, Huelva, Teruel, Guadalajara, Huesca, Oviedo and Cuenca, with price declines of more than 5%, when in 2015 the evolution was just the reverse.
In contrast, Madrid, Barcelona, Valladolid, Pamplona, Ourense, Cáceres, Vitoria or Valencia experienced increases of more than 5% in 2016. Only in 9 provincial capitals prices remained unchanged compared to last year (Zaragoza, Almería, Toledo , Lleida, Salamanca, Soria, Alicante, Logroño and Zamora).
The upward trend in the volume of housing sales in Spain can be considered sustained, although it relativizes the intensity of the incipient real estate takeoff, which is mainly due to the housing used. This situation would explain, the slow reduction of the stock of new housing, on the one hand, and the lack of promotion, on the other.
In fact, for every new home sold in Spain there are eight second-hand housing transactions. Although less pronounced, this reality is also extrapolated to the protected housing segment.
Source: el economista