The tightening of the granting of mortgage loans and the increase in the cost of financing due to the rise in interest rates have not managed to curb the price of second-hand housing, which in the last year it has risen by 10%, placing the price per square meter above 2,100 euros.
This is the year-over-year rise highest in the last 17 yearsaccording to data from the Fotocasa Real Estate Index, and must be attributed to “a very strong and intense demand for second-hand housing and a reduced supply”, indicates María Matos, director of studies and spokesperson for Fotocasa.
This imbalance between supply and demand has made second-hand housing more expensive in all the autonomous communities, and in five of them the increase exceeds 10%.
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The Balearic Islands lead the ranking with a price increase of 25.6% in the last year, followed by the Canary Islands, with 17.3%, and Navarra, with 15.9%.
Also The Balearic Islands is at the head of the communities with the most expensive homes, the square meter costs 3,666 eurosfollowed by Madrid where it is paid at 3,438 euros and the Basque Country at 2,958 euros.
The cheapest are in Castilla-La Mancha with a square meter at 1,150 eurosahead of the Region of Murcia, with 1,210 euros, and Extremadura, with 1,217 euros.
By capitals, Palma de Mallorca is where housing has risen the most in the last year, 24.7%unlike in Palencia where prices fell by 1.2%.
The most expensive capital to buy a home is Donostia, where the square meter is quoted at 5,712 euros, followed by Barcelona capital, with 4,424 euros, and Madrid capital, with 4,295 euros. The cheapest is Zamora where the square meter is paid at 1,271 euros.
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The house price rise curve could have its days numbered, predict real estate analysts, who They foresee a slowdown in prices for the coming months “as the demand for purchases moderates”, estimates María Matos.
This will be because the new rises in interest rates will hinder access to purchases by making credit more expensive mortgage, which “will force the buyer to discard the idea of acquiring a home, at least temporarily,” says Matos.
Another factor that will help to moderate the upward price curve is “the inflation that families must endure in their day-to-day lives and that delays real estate purchases”, argues Ferran Font, director of Studies at Pisos.com.
However, it considers that “the increase in the cost of loans for the purchase of housing still It will take time for the momentum of demand to slow down enough for this retrenchment to impact sales prices”.
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