This year, the one with the reactivation of the residential market After the brake caused by the pandemic, it closed with an average increase of 4.3% in the price of new and used housing in Spain, according to the provisional data of the IMIE Local Markets statistics, based on the appraisals carried out by Tinsa Throughout the Spanish territory.
The increase in the interannual rate in the fourth isolated quarter reached 8.6% when compared with the quarter of 2020 in which prices reflected more pronounced falls after the health crisis. The Basque Country and the Balearic Islands stand out as the most dynamic autonomous communities in price evolution.
Housing in Madrid It is 10.5% more expensive than in the fourth quarter of 2020, compared to the 4.5% increase in Barcelona.
In the annual balance, the price has risen by 5.8% on average in the capital of Spain, double that in Barcelona.
«In the last quarter of 2021 there is an increase in the prices of the residential market that consolidates the trend started in previous quarters and reflects a growth environment in which demand is higher than supply and construction begins to reactivate prudently, which could be indicative of an upward phase of the real estate cycle ”, affirms Cristina Arias, director of the Tinsa research service.
With regard to the housing supply, it is being reactivated prudently and the numbers of visas issued during 2021 recover the level registered in 2019. «The stresses generated by the high costs of construction materials are expected to fade away with the normalization of supply chains, but new pressures may arise on costs derived from the shortage of labor in the sector “, highlights the aforementioned person in charge.
The bulk of the communities have registered average price increases between 2% and 6% in the whole of 2021, with Basque Country (9.4%), Balearic Islands (9.3%) and Galicia (6.8%) as the regions with the highest average variation during this year. Another group of four regions experienced an evolution in 2021 more in line with a stabilization trend in 2021. These are Navarra (-1.9% on average), La Rioja (-1.1%), Castilla y León (+0 , 1%) and Aragon (+ 0.9%).