Housing ends the year with a rise of 2.6%, according to Tinsa

housing prices, new and used, have put the brake in 2019 and have just the four quarter of the year with a year-onyear growth of 2.6%, according to the latest r

Housing ends the year with a rise of 2.6%, according to Tinsa

housing prices, new and used, have put the brake in 2019 and have just the four quarter of the year with a year-onyear growth of 2.6%, according to the latest report of the adjusting Tinsa. Despite this, the effort they must make homes to buy a home is increasing. The cities of Madrid and Barcelona, which until now had pulled the prices upward, ending the year below the average. Your relay take cities such as Seville or Santa Cruz de Tenerife, where the floors have been moving at a pace of double digit.

In its report, Statistics of Local Markets, the greater adjusting of Spain establishes that the average growth of prices throughout 2019 stood at 3.6%, the lowest percentage in three years. Of the progressive slowdown that has experienced the market realizes the percentage even lower (2.6 per cent) with just the fourth quarter. In euros is translated into that between October and November, the square meter of a house is worth like half 1,373 reports euros, compared to 1.338 euros worth in the same period of the previous year.

But this average hides large differences between cities. San Sebastián is the most expensive (according to the statistics of Promotion is Ibiza, but Tinsa only collects data from provincial capitals) with 3,471 euros per square meter. We continue to Barcelona (3.352 euros) and Madrid (3.020 euros). Castellón of the Flat, with 894 euros per square meter, is the cheapest, together with Ciudad Real (932 euros) and Avila (954 euros).

different rates

Also seen large difference in the evolution of prices this year. While in the real-estate bubble of the early twentieth century observed a behavior quite homogeneous in the whole of Spain, with the crisis came the fragmentation of multiple local markets. Some started the recovery does a half-decade and already start to move down, while others are now in full swing or have not even begun to overcome.

Thus, while the nine provincial capitals end up with increases year-on-year to two digits in the four quarter, 13 recorded falls. Among the first, leads Logroño (20.4% of increase), and also highlight Santa Cruz de Tenerife (15,1%) and Seville (12%). Among the latter appear Barcelona and Bilbao, both with two drops of 0.8%, although the largest collapse occurs in Ciudad Real (-10,7%).

The statistics Tinsa also analyzes the financial effort households have to make to buy a mortgage. This is calculated as the percentage of the available income that goes to pay for the first year of the mortgage. The middle to the end of 2019 is 20.7%, three points higher than a year ago. The balearic islands (29.2 per cent) and Malaga (27,4%) are the provinces where the more difficult it is to families to buy a home.

Updated Date: 30 December 2019, 22:00

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