The time to invest in Spanish Real State is running out
The Real State market in Spain is no longer plummeting down, so if you want to obtain the Spanish Golden Visa by means of an investment of this type, you are still on time.
The average price of resale property in Spain in May was at 1,620 € / m2, registering a monthly decrease of -0.3%. This slight decline shows that price of second-hand housing is stabilizing and we are leaving behind the big price drops we have witnessed in recent years.
Regarding the yearly variation, the price fell by -0.9% and continues the trend of recent months in terms of soft interannual variations.
And, as happened in 2015, some areas of Catalonia, Madrid, islands and parts of the Mediterranean coast are in fact recovering. This case, coupled with the improvement in the number of transactions, the larger volume of mortgages and the increase in visas seem to indicate that the industry is returning to normal after eight years of crisis.
The average price of second-hand housing in Spain accumulates a fall of 45.1% since its historic peak recorded in April 2007 of 2,952 € / m2. In this regard, 12 regions have fallen over 40% since reaching the maximum price nine years ago. La Rioja is the community which has seen the biggest price fall (57%), followed by Castilla-La Mancha (53.5%), Navarra (52.6%), Aragon (52.2%), Murcia ( 50.7%), Catalonia (47.9%), Valencia (47.5%), Asturias (46.3%), Valencia (47.5%), Catalonia (47.1%), Asturias ( 46.1%), Madrid (43.87%), Andalucía (42.6%), Extremadura (42%) and Cantabria (40.5%).
Of the 17 regions, in May the price of second-hand housing actually went up in four of them. The most marked increase occurred in Basque Country (0.5%), followed by Madrid (0.2%) and Valencia and Navarra, both increased by 0.1%.
The Basque Country remains the most expensive in Spain, with an average price of 2,736 € / m2, followed by Madrid (2,234 € / m2) and Catalonia (2.012 € / m2) community. By contrast, Castilla-La Mancha (1030 € / m2), Extremadura (1,082 € / m2) and Murcia (1,134 € / m2) are the communities that maintain the most affordable prices of second-hand housing.
Lastly, historically, the most expensive district in Spain was the Salamanca district in Madrid, but in the last months two districts of Barcelona have surpassed the capital. It is now Sarrià – Sant Gervasi and Les Corts, which occupy the top of the most expensive districts to purchase a resale home. Specifically, buying a house in Sarrià – Sant Gervasi costs 4,659 € / m2, in Les Corts 4,344 € / m2, and in the district of Salamanca 4,321 € / m2.