The price of housing in Spain: analysis and prospects

Housing prices in Spain - statistics

Overview

Editorial team of choice Statistics The housing market was both one of the initiators and one of the main victims of the economic crisis that began in 2008. With an active real estate market and relaxed criteria of banks in granting loans, more and more people joined in buying homes in Spain. The bursting of the bubble burst prices, reversing the upward trend that had continued in previous years. Thus, prices fell along with residential real estate sales. However, the market has recovered considerably and represents a very different state compared to the periods before and after the housing crisis. Changes in residential real estate values follow''housing, which seems to be explained by the difference between the average purchasing ability and the price of real estate. On the other hand, Murcia and Rioja are regions where residents have less trouble buying a home. And while in these two autonomies it takes five years of full salary to buyreal estate, in Catalonia and Madrid it takes more than eight years and in the Balearic Islands it takes double the amount. Behind these differences lie facts such as the fact that the cost per square meter of housing in Catalonia in 2021 was three times the cost in communes such as Extremadura orMurcia.

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