The price of housing rose by 7.6% and mortgage debt by 5.7% in 2017

Published on February 23rd 2018

13.1% of purchases were made by foreigners, just over 61,000 houses

In 2017, the price of housing rose, as did mortgage indebtedness and buying and selling by Spaniards and foreigners. The brick continues to show signs of recovery. The price of homes increased by 7.6% last year. For the fourth year in a row, it has become more expensive and has surpassed the figures for 2016, when an increase in the price of housing was registered by 5.7%.

The prices of 2017 are still 21% lower compared to the maximum reached in 2007. Although, to continue at this pace, will soon reach the top of the boom years. Only in four years (since the 2014 lows) an accumulation of 20% has accumulated, according to the Real Estate Registry Statistics.

Last year also closed with a significant increase in the sale of homes, which increased 15% over 2016. They changed hands 464,233 homes, the highest annual figure since 2008. The bulk of sales was generated in the market Second hand: 383,458 homes, compared to 80,765 new units. However, unlike in previous years where the used housing grew and the new one decreased, the behavior of both types has shown solid growth in 2017: 11.3% in new housing and 15.8% in used housing. "The second hand continues to impose itself on the new work, which has started to pick up clearly from the second half of 2017, reaching 80,000 sales for the first time since 2015," explains Ferran Font, director of studies at Pisos.com.

The sale of houses closed 2017 with strong growth in all the autonomous communities with respect to a year earlier. The highest levels of growth were in Castilla-La Mancha (23.1%), Asturias (20.7%), Madrid (19.1%) and Comunidad Valenciana (17.8%). In 13 autonomous communities, growth rates reached double digits.

 

Source: El Pais