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House prices rose 0.62% in August and almost 7% in the last year, according to

MADRID, 7 Sep.

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House prices rose 0.62% in August and almost 7% in the last year, according to


The average price of second-hand housing in Spain in the month of August stood at 2,084 euros per square meter, which represents an increase of 0.62% compared to the month of July, while the rebound in the last year has reached 6.83%, according to the monthly sales price report of

According to the director of Studies, Ferran Font, the upward trajectory of housing prices continues "on a roll", despite the fact that the granting of mortgages "has cooled down". The expert indicates that the pressure of demand still plays a fundamental role in sustaining average values, as well as the "inflated costs" involved in the development of new construction developments.

"The residential market is being fed with new available stock very slowly, something that forces the imbalance, especially in those places where the interest in buying to live and to invest coexist," underlines the spokesperson for the real estate portal.

In this sense, Font is cautious about the ceiling of these rebounds, given that there is still double-digit growth in several territories and the declines that are recorded are few in number and "quite contained." However, he anticipates that moderation has to come because it is "unsustainable" for sales and loans to fall and prices to evolve in the opposite way for a long time.

According to the monthly report from, the most expensive regions in August were the Balearic Islands (4,150 euros per square meter), Madrid (3,524 euros) and the Basque Country (3,001 euros), and the cheapest Extremadura (820 euros), Castilla- La Mancha (870 euros), Castilla y León (1,199 euros).

Interannual, the most striking increases took place in the Balearic Islands (16.89%), the Canary Islands (13.13%) and the Valencian Community (12.35%), with no adjustment recorded in this period in any community.

Regarding the provinces, the largest increases from one year to the next were located in Málaga (17.96%), the Balearic Islands (16.89%) and Santa Cruz de Tenerife (16.29%). The most pronounced drops, however, were shown by Ourense (-5.27%), Zamora (-4.63%) and Toledo (-4.09%).