Second-hand housing in Spain jumps 13.5%, pushing overall prices up
Second-hand housing in Spain is up 13.5%, its biggest rise in 19 years, lifting overall prices by 12.9%. Every region is growing at double-digit rates.
English · Original discussion in Spanish · Published
Second-hand housing hits record highs: up 13.5% and driving the index
Spanish house prices rising 12.9% year-on-year is no surprise. What stands out is that the increase is being driven by second-hand homes, up 13.5%, their biggest rise in 19 years. New-builds are up just 9.1%. The market is clearly polarized.
Regional breakdown: every region in double digits
All of Spain's autonomous communities are posting double-digit increases. Aragón and Murcia lead with 15.6%, trinc by Castilla y León and Ceuta (14.9%). Asturias, the Valencian Community, La Rioja, Cantabria, the Balearic Islands, Madrid and Galicia are also above the national average.
The debate centers on whether this is a bubble or a structural shift. While some point to sustained demand driven by immigration, others recall the 2008 crash. Some note that purchases are concentrated in previously depressed areas such as Asturias's former mining basin, where prices are soaring 15-20% a year due to the arrival of new residents. Energy efficiency looms as an open question: within a few years, many homes could fall out of the market.
Second-hand housing is up 13.5%, versus 9.1% for new-builds. With these figures, the question is not whether prices will rise further, but who will be able to afford them.
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Spanish house prices rising 12.9% year-on-year is no surprise. What stands out is that the increase is being driven by second-hand homes, up 13.5%, their biggest rise in 19 years. New-builds are up just 9.1%. The market is clearly polarized.
Regional breakdown: every region in double digits
All of Spain's autonomous communities are posting double-digit increases. Aragón and Murcia lead with 15.6%, trinc by Castilla y León and Ceuta (14.9%). Asturias, the Valencian Community, La Rioja, Cantabria, the Balearic Islands, Madrid and Galicia are also above the national average.
The debate centers on whether this is a bubble or a structural shift. While some point to sustained demand driven by immigration, others recall the 2008 crash. Some note that purchases are concentrated in previously depressed areas such as Asturias's former mining basin, where prices are soaring 15-20% a year due to the arrival of new residents. Energy efficiency looms as an open question: within a few years, many homes could fall out of the market.
Second-hand housing is up 13.5%, versus 9.1% for new-builds. With these figures, the question is not whether prices will rise further, but who will be able to afford them.
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Summary of a discussion on Burbuja.info - Foro de economía, actualidad y política., translated from Spanish and reviewed before publication. Read the full discussion (18 replies).
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