Price of Used Housing Rose by 0.7% in July

August 7th, 2013

According to data collected by the real estate portal Fotocasa.es, and analysed by the IESE business school, the average price of resale housing in Spain increased by 0.7% in July over the previous month, to stand at 1,773 euros per square metre, after 41 consecutive months of declines.

The analysts warn though that “it is too early to talk of a turnaround” and although they believe that this slight increase “gives some hope to the housing market,” they state: “Until three or four months of no declines are registered, we cannot say that the price of housing has hit bottom.”

By region, the average price dropped only in Galicia, Asturias and Extremadura (by 0.1%, 0.2% and 1.2% respectively). In Andalusia, the average price remained stable at 1,513 euros per square metre, while in the remaining regions it increased. The Basque Country registered the lowest growth (0.1%), and La Rioja the biggest increase (2.7%).

El Economista reported that, according to the data, the most expensive regions are the Basque Country (3,085 euros per square metre), Madrid (2,386 euros) and Catalonia (2,209 euros).

As for the size of the properties, houses of between 60 and 100 square metres were those which registered the highest increase, of 0.9%, reaching the average price of 1,700 euros per square metre.

For housing of up to 60 square metres, those between 100 and 150 square metres and those between 150 and 300 square metres, prices have risen by 0.6%, reaching average prices of 2,006 euros per square metre, 1,789 euros and 2,189 euros, respectively.

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