The price of housing rises 5.2% in August, the highest increase in the last three years

MADRID, 5 Sep. (EUROPA PRESS) -

The price of second-hand housing rose 1.4% in August compared to the previous month and 5.2% year-on-year, the highest increase in the last three years, placing its price at 1,988 euros per square meter, according to data from the Fotocasa Real Estate Index.

"Housing prices have been rising continuously for seven months, but until now, they had always been moderate rises below 4% at the national level. However, in August the temperance was broken, and there was a significant rise, since exceeds 5% year-on-year," said the Director of Studies and Spokesperson for Fotocasa, María Matos.

"This dynamic increase is probably due to the fact that the demand for buying a home has risen very strongly, because citizens are looking to acquire a property before mortgages become even more expensive due to the rise in the Euribor. This trend will probably begin to moderate when the market finds a balance and uncertainty begins to fade. Another important aspect to highlight is the lack of housing stock in the market", he added.

Analyzing the prices of housing for sale compared to those of a year ago, fifteen communities increased the year-on-year price in August.

In two communities it exceeds 10%, specifically, in the Balearic Islands it rises 10.9% and in Navarra 10.1%. They are followed by the communities of Madrid with 7.4%, the Valencian Community with 6.8%, the Canary Islands with 5.4%, Andalusia with 5.3%, Catalonia with 3.8%, the Region of Murcia with 3.8%, Castilla-La Mancha with 1.5%, Aragón with 1.4%, La Rioja with 1.2%, Galicia with 1.1%, País Vasco with 1%, Extremadura with 0.8% and Asturias with 0.5%.

On the other hand, the year-on-year decreases in August were detected in Castilla y León with -0.2% and Cantabria with -0.1%.

Regarding the ranking of Autonomous Communities with the most expensive second-hand housing prices in Spain, Madrid and the Balearic Islands are found, with prices of 3,359 euros per square meter and 3,184 euros per square meter, respectively.

They are followed by the Basque Country with 2,901 euros per square meter, Catalonia (2,636 euros), the Canary Islands (1,871 euros), Navarra (1,788 euros), Andalusia (1,776 euros), Cantabria (1,751 euros), Aragon (1,629 euros), Galicia ( 1,629 euros), Asturias (1,594 euros), Valencian Community (1,523 euros), La Rioja (1,486 euros), Castilla y León (1,441 euros), Region of Murcia (1,160 euros), Extremadura (1,159 euros) and Castilla-La Mancha (1,136 euros).