Housing prices in new buildings of Madrid and Barcelona increased by 4%

According to the report of ST Sociedad de Tasación, over the last year the average price of housing in new buildings in Madrid and Barcelona increased by 4%. Higher prices recorded in these cities due to the lack of new buildings offerings. The report suggests that in the near future Madrid and Barcelona will be the starting point in the process of prices recovery for apartments.

Barcelona is the regional capital with the highest prices with a square meter on average estimated at 3.390 thousand euros. The rise of prices in the first semester of 2016 is 2.2%. Annual price growth in 2015 was 4.1% – the highest among all the capitals of the Spanish provinces.

The biggest increase of housing price in new buildings of Barcelona fixed in Gracia – 7, 72%. This is followed by areas of Sarria-Sant Gervasi (6, 94%) and the Sant Marti (6, 38%). The areas with the lowest growth of prices is Ciutat Vella (1, 33%), Sant Andreu (1, 93%) and Nou Barris (2, 33%). The Sarria-Sant Gervasi district also recorded the highest average price per square meter, which amounts 5,672 thousand euros. Les Corts and L’Eixample occupy second and third place – 4.610 and 4,511 thousand euros / m2. The lowest rates: 2.721, 3.024, and 3.062 thousand euros / m2 recorded in the districts of Nou Barris, Sants-Montjuic and Sant Andreu, respectively.

In Madrid the average price per square meter in a new building amounts to 2.886 thousand euros.

The price increase amounted to 4% compared ro the previous year. During the first semester of 2016 prices went up by 2.1%. As a result, the average price per square meter is equal to 2.886 thousand euro.

The zone with the greatest changes is the Ciudad Lineal, where the annual price increase is 5.8%. Followed Barajas (5, 7%) and Arganzuela (5, 4%). The districts with minor changes are Hortaleza (0, 8%), La Latina (1%) and Tetuán (1,8%).

Salamanca has consistently taken the position of the most expensive area of Madrid, where the average price per square meter is equal to 4.799 thousand euros. Chamberí (4.626 thousand euros / m2) and Centro (3.939 thousand euros / m2) follow. Lowest prices: 1.856, 1.883, and 2.203 thousand euros / m2 registered in Vicálvaro, Villaverde and Villa de Vallecas, respectively.

 

Source: ElPais