Villamartin New Build Apartments

The price of housing in Spain rose 3.6% in May 2017

Even taking into account the latest rises since 2007, homes have depreciated 39.2%, according to Tinsa.

The price of housing, new and second-hand, rose again in May and did so with a rise of 3.6% over the same period of 2016. Capital cities and large cities, with an increase of 6, 1% in the last year, and the Mediterranean coast, with a growth of 4.7%, were the areas with a better evolution of prices.

According to the appraisers organization, the average price in Spain returns to the level of December 2013. Compared with the previous cycle, before the outbreak of the crisis, housing would be in values equivalent to those of September 2003.

Prices continue to adjust from highs.

After the capitals and the Mediterranean coast, it stands out the 2.9% of year-on-year growth experienced in the islands, followed closely by 2.2% of the smaller localities. Meanwhile, metropolitan areas remain at levels similar to those of May 2016 and show a slight decrease of 0.3%

The housing continues to reduce the gap generated since the end of 2007. Thus, the cumulative adjustment in the average price since then is at 39.2%. On the Mediterranean coast, the most affected area in the last ten years, the cumulative adjustment is 45.6%, only one point more than in metropolitan areas, where the average price has fallen by 44.5% since the highs.

In capitals and large cities, the decline is, with 41.3%, somewhat higher than the national average. In the Balearic and Canary Islands, the drop was 27.7% in these almost ten years and the one of this of municipalities of 35.9%.

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