Prices in the secondary real estate market

Created on 10.03.2014 14:18:33
Prices in the secondary real estate market

In 2013, the cost of second-hand housing in Madrid fell again.

This trend has been observed for 6 years. Last year, this type of real estate has fallen to 12%. Now the cost per square meter is 1615 euros. Compared with the highest pre-crisis indicators has decreased almost 60%.
The highest cost of second homes in the capital was observed in 2006, when the square meter cost 3956 euros. An important role is played in the pricing and location of the property plays in a particular city block , having a lift and so on.

Barcelona

Foreigners are buying luxury properties in Barcelona. So , new apartment on Passeig de Gràcia, the investment group acquired from Latin America, as well as private clients in Kuwait and Dubai. The total amount of these transactions amounted to 4.1 million euros, and the price per square meter - 7500 euros. This is 40 % lower than in the pre-crisis period .
Area sold apartments range from 70 to 140 square meters. They are located on the main shopping street of the Catalan capital and intended for rental .
According to experts, in recent months there has been growing interest in the Barcelona real estate investor from Latin America , India, the Chinese and Russians.

Sales grow

Despite the drop in the number of sales transactions and Spanish property price declines, the experts of the housing market is still a cause for optimism. Statistics College Registrars estate shows that in 18 Spanish provinces in the 4th quarter of last year the number of sale and purchase transactions increased compared to 2012 figures .
Basically, this trend has been the coastal regions , where they recorded the best sales figures . Total sales leader was back in Madrid with the index 46 188 transactions. These figures are similar to last year's results . Second place after the capital occupies Barcelona with 30,497 operations ( 10.36 %). Third place ranking went to Alicante ( 24,754 transactions , 11.67 %) , while the fourth - Malaga ( 20,085 , +8.5%) .

Without mortgage

Almost 70 % of housing in Spain last year was acquired by existing funds without attracting buyers of mortgage financing .
Statistics show that the number of loans to purchase real estate in the annual average decreased by 30.5% . These data contrast with the situation , which was observed before the crisis , when almost all real estate transactions were made on the basis of bank mortgage lending.