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The average price of the house stood at 139,000 euros during 2016.
The price of housing in Spain will rise steadily throughout this year. There are several reasons why. The great interest of the international investor, greater openness in the granting of loans to Spanish families and the decrease in supply will lead to a sustained rise in prices in the real estate markets of the main urban and coastal areas.
By 2017, factors such as the increase in transactions in the more peripheral markets, the available Spanish income and purchasing power, will predict a sustained rise in housing prices. The Basque Country, Catalonia, the Balearic Islands and the Community of Madrid are the autonomous communities where it is more expensive to invest in the residential real estate market, while the provinces of Andalusia, Extremadura and Castilla-La Mancha are the cheapest areas to acquire a living place.
As regards the number of real estate transactions, Andalusia, Catalonia, Comunidad Valenciana and Comunidad de Madrid have the highest number of transactions covering all segments of the real estate market, arousing a special interest both in the international investor and in Spanish families. Last year left 445,000 real estate transactions, between sale and rent. By 2017, it is expected to reach 500,000 operations, matching the figures for 2008.
With regard to the price of housing, it will experience sustained growth driven by increased demand and reduced supply. In addition, the culture of property, deeply rooted in Spanish society and the largest mortgage concession will cause the market to record an increase in the purchase and sale to the detriment of rent.
Foreign buyers are British, French, German and Scandinavian who have invested the most. They are interested in luxury homes located in the cities of Madrid and Barcelona, and in coastal areas of Alicante, Almeria, Malaga, Murcia, Balearic and Canary Islands. Foreign buyers will continue to invest in housing during 2017 attracted by the high profitability of prices, socio-cultural offer and security of our country.
As far as the national buyer is concerned, it has been the upper classes that first regained their interest in the residential real estate market, perceiving it as a safe value against the instability of the stock markets. Luxury homes equipped with all kinds of services, located in well-connected residential neighborhoods with the possibility of obtaining capital gains is what they demand most. In addition, interest in the housing of the middle classes has been reactivated, surpassing the number of real estate transactions of the first group, although with a lower average value, which demand floors of 90 m2 and three rooms in peripheral areas of large cities.
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