{"id":3244,"date":"2020-09-07T13:01:27","date_gmt":"2020-09-07T11:01:27","guid":{"rendered":"https:\/\/www.marbellaforsale.com\/blog\/?p=3244"},"modified":"2020-09-07T13:01:27","modified_gmt":"2020-09-07T11:01:27","slug":"second-hand-house-prices-up-30-since-2015","status":"publish","type":"post","link":"https:\/\/www.marbellaforsale.com\/blog\/second-hand-house-prices-up-30-since-2015\/","title":{"rendered":"Second-Hand House Prices Up 30% Since 2015"},"content":{"rendered":"
\"Price

Prices in Palma de Mallorca are up 58%<\/p><\/div>\n

The cumulative price of second-hand homes in Spain has increased by 15% over the last five years<\/strong> (since June 2015), according to data from property portal Fotocasa<\/a>.<\/p>\n

“The price of second-hand housing at the end of 2019 suffered the first decrease in year-on-year prices following almost four years of uninterrupted increases. Since then, prices have been recording small declines showing the second-hand property market has stabilised. However, these small price drops are not significant because the current average prices still remain up to 40% below those reached before the financial crisis.<\/em>“, explained Ana\u00efs L\u00f3pez, Communication Director at Fotocasa.<\/p>\n

Looking at the percentage increases accumulated since 2015, the average price per square meter of second-hand homes for sale has increased by 15% across Spain (from 1,635 euros\/m\u00b2 in June 2015, to 1,874 euros\/m\u00b2 in June 2020<\/strong>).<\/p>\n

Thus, in 2015, buyers had to pay an average of 130,802 euros (June 2015, \u20ac1,635 p\/m\u00b2) for the purchase of an 80m\u00b2 home, compared to the 149,894 euros (June 2020, \u20ac1,874 p\/m\u00b2) which is the average in Spain in 2020.<\/p>\n

The Balearic Islands, Madrid and Canary Islands Most Affected<\/h3>\n

Of the autonomous communities that have been most affected by the increase in the price of second-hand homes in the last five years, three of them have seen increases exceeding 30% since 2015. The price of housing for sale in the Balearic Islands has gone from \u20ac1,864 p\/m\u00b2 in June 2015 to \u20ac2,764 p\/m\u00b2 in June 2020 (48% increase); in Madrid from \u20ac2,222 p\/m\u00b2 to \u20ac3,050 p\/m\u00b2 (37.3%) and the Canary Islands from \u20ac1,299 p\/m\u00b2 to \u20ac1,774 p\/m\u00b2 (36.6%), in the last five years.<\/p>\n

Putting the biggest increases in order of cumulative increase in Spain we see the Balearic Islands (48%), Madrid (37.3%), Canary Islands (36.6%), Catalonia (19%), Andalusia (16%), Valencian Community (11%), Navarra (4%), La Rioja (3%), Castilla-La Mancha (3%), Aragon (2%) and the Basque Country (0.4%).<\/p>\n

On the other hand, the order of the communities in which the price of second-hand housing prices have decreased since 2015 is: Galicia (-2.6%), Castilla y Le\u00f3n (-2.4%), Asturias (-2%) , Extremadura (-1.7%), Cantabria (-1.2%) and Regi\u00f3n de Murcia (-0.8%).<\/p>\n

By City<\/h3>\n

Palma de Mallorca, Malaga<\/a> capital and Madrid capital are the only cities whose increases have exceeded 40%<\/strong> since 2015.<\/p>\n

The ten cities with the highest cumulative increase in the price of homes for sale in Spain since 2015 are: Palma de Mallorca (58%), M\u00e1laga capital (48%), Madrid capital (43%), Barcelona capital (35%), Las Palmas of Gran Canaria (35%), Donostia – San Sebasti\u00e1n (34%), Girona capital (31%), Valencia capital (30%), C\u00e1diz capital (24%) and Seville capital (20%).<\/p>\n

Eight cities that have not been affected by the increase in housing for sale since 2015 are: \u00c1vila capital (-8%), Zamora capital (-7%), Teruel capital (-5%), Soria capital (-4%), Ourense capital (-3%), Ja\u00e9n capital (-2%), C\u00e1ceres capital (-1%) and Oviedo (-0.2%).<\/p>\n\t

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