Prices for secondary housing in Spain increased by 7.4%
The cost of secondary housing in Spain is growing. Thus, in the second half of 2016, the average price per square meter was €1690, by 7.37% more than at the same period of 2015, shows the study of the experts of the company Tecnocasa, which conducted a joint study with the University of Pompeu Fabra.
Still, the cost of the square meter is not as high as it was 2006, when it reached €3489. When the bubble burst, there was a serious price adjustment, and the devaluation reached 58,76% with a minimum cost of a square meter of €1439, recorded in the first half of 2013.
Since then, the price of Spanish resales recovered by 17.4%, and according to experts, they are still low. Prices differ from region to region, but the most expensive "square meters" on the secondary real estate sold in Barcelona (€2486), in Madrid (€1859). However, for example, in places like Zaragoza market is stagnating. In the “boom” period the market was dominated by the new homes, but experts say that the situation is changing – and the secondary market will be more popular.
