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House Prices Up by 8.6% During Last Quarter of 2021

House prices have shot up by more than 20% annually in Lugo, Teruel and Bilbao. In Madrid, prices have risen by 10.5%, according to Tinsa.

house prices

The price of new and existing housing in Spain increased by 8.6% y-o-y in the last quarter of 2021, to an average of 1,470 euros per m2. Quarter-on-quarter, year, house prices were up by 1.8%, Tinsa reported Thursday.

Cristina Arias, director of Tinsa’s Research Department, said that “in the last quarter of 2021 there has been an increase in residential market prices that has consolidated the trend started in previous quarters, reflecting a growth scenario in which demand is outstripping supply.”

“Demand is demonstrating its capacity to purchase with its own resources, as can be seen in the proportion of mortgages over sales and purchases and debt ratios, both of which have been stable and balanced in recent months,” Ms Arias stated. “In terms of product, we have observed in house prices a resurgence in the preference for homes with larger surface areas, which had slowed down during the central quarters of 2021”, she added.

Read the full article in Spanish

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