Monday, July 4

New housing became more expensive by 3% during 2021

After registering increases of less than 1% in 2020 and the first half of last year, the new home price rose by 2.8% in the second half of 2021, which closed the year a 3% above from the closing levels of the previous year, to stand at 2,551 euros per square meter. This is how he pointed out this Monday Appraisal Society, which has also forecast an increase of between 3% and 5% between January and June 2022.

All the communities registered increases in 2021 that vary from 1.9% of Estremadura and 4.1% of the Islands Baleares, with Catalonia registering an increase of 2.9%. As for large cities, prices increased by 3.1% in Barcelona (which is still the most expensive capital in the country: 4,491 euros per square meter) and 3.5% in Madrid (the second with 3,673 euros).

The appraiser has also highlighted the 42.2% increase in the transactions properties in the first nine months of 2021 compared to the same period in 2020 and 21.6% compared to the same period in 2019. Likewise, the concessions of mortgages of housing have increased between January and September by 15.1% compared to 2019 and 23.3% when compared to the same months of 2020. The Appraisal Society have pointed out that these data are due to the improvement in the situation epidemiological, “solvent demand impounded” during 2020 and the strong demand for replacement. He has also argued how low interest rates have made the home a safe haven.

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“It has been broken out of sync worldwide that we have been observing in recent years in the residential sector. After the pandemic demand shock, some doubts, a V-shaped recovery in activity and price continuity in 2020, we have moved on in 2021 to observe how U.S and some European countries have reported growth worrying activity and housing prices, to such an extent that the IMF and the ECB have already sent warning signals to the sector, “said Juan Fernández-Aceytuno, CEO of the signature, in a note.

“In Spain, the used housing It grows at an even slower rate, in line with the moment of the residential real estate cycle that, remember, has an average duration of eight years, which would be completed in 2022. It is true that the pandemic has been able to alter the length of this cycle, due to the impact in numerous macro and micro variables that are key to the demand and supply of housing, but let’s be cautious, the cycles exist, and when historically we have questioned its existence, the consequences almost carry the financial system ahead, “he warned.

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