The average price of second-hand housing increased by 7.7% in August compared to the same month last year and advanced by 0.1% compared to July, according to data from Hogaria.net. The real estate portal highlights that the increase recorded in August remains considerable, although it shows some moderation compared to the pace observed in previous months.
In this regard, hogaria.net details that the number of provinces where housing became more expensive decreased from 46 in July to 34 in August. "It is not enough to talk yet about a change in trend, but it is a figure that is worth monitoring," the platform points out.
According to hogaria.net, in recent months a "seemingly contradictory" situation has been detected, as access to housing is increasingly complex, buying and selling operations have cooled, and yet prices have continued to rise.
The portal reminds that "Spain still has less housing available than it needs in areas where there is greater demand. And when the product is scarce, a reduction in buyers does not necessarily lead to an immediate drop in prices."
Moreover, the increase in financing costs due to the rise in interest rates could become more relevant in the coming months, as it raises the cost of mortgages and postpones the buying decision for many households.
The provinces with the highest prices
In the provincial analysis of the used housing market, the report from Hogaria.net confirms that the Balearic Islands again ranked in August as the most expensive territory, with 5,100 euros per square meter. Following are Madrid, with 4,249 euros per square meter, and Guipúzcoa, with 4,211 euros per square meter.
After these provinces are Málaga, where the square meter was paid at 4,086 euros, and Barcelona, with an average price of 3,790 euros per square meter.
In the city of Madrid, the value of the square meter slightly decreased by 0.1%, to 5,222 euros. Barcelona capital, on the contrary, extended the increases with a rise of 0.4%, reaching 4,931 euros. In Valencia, the price reached 3,238 euros per square meter and in Seville it was at 2,944 euros.
"The picture remains, therefore, that of an expensive market with large territorial differences," warns Hogaria.net, which considers that it is still early to assert that prices have entered a phase of declines or a clearly downward trend.