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The price of ‘used’ houses goes up for the first time in nine years

The average price of a house which is not a new build in Spain increased in 2016 by 1.9%, and is the first rise in the last nine years, according to the yearly analysis by the real estate Fotocasa on their report  “La vivienda de segunda mano en 2016 (“’Second hand’ houses in 2016”).

The report shows that last year the real estate market secured this revival which began to be felt in 2014 and is now showing a more encouraging panorama.

The price of ‘second hand’ houses in December was 1.649 €/m2. As regards annual growth rates, the close of year report shows that prices rose in six autonomous communities and lowered in 11.

“In 2016 the positive energy being felt in the sector after eight years of adjustment is definitely happening. Mortgage financing is consolidating, house purchase is increasing at a good pace, and prices are stabilising except in the large spaces and points on the coast where they are just starting to go up. Everything points to the fact that the worst is over, although recovery will be slow, moderate and uneven”, explains Beatriz Toribio, Head of Estudios at fotocasa