SANTA CRUZ DE TENERIFE, 8 Jan. (EUROPA PRESS) –
The price of housing in the Canary Islands has increased by 3.9% in the last quarter of 2022 compared to the same period of the previous year, placing the average price of housing at €1,530/m2 compared to €1,507/m2 in Spain, according to data from the Gesvalt company.
Regarding the provinces that are part of the community, Santa Cruz de Tenerife has led the increases, with 5.7%, reaching €1,510/m2, followed by Las Palmas, with an increase of 2.4% and an average price of €1,553/m2.
In reference to rental housing prices, the Canary Islands have registered a year-on-year increase of 7.5% to stand at €11.49/m2/month. The province that has experienced the greatest increase has been, once again, Santa Cruz de Tenerife (7.9% and €10.78/m2/month), closely followed by Las Palmas (7.3% and €12.77 /m2/month).
This increase has occurred in a national context marked by a 3.3% increase in house prices, which comes after the 4% of the previous quarter, which was the largest increase after six consecutive ones above 3% since the end of the year. of the pandemic, at the end of the second quarter of 2021.
In this way, the price of housing has stood at €1,507/m2, which is why it continues to approach the all-time high, recorded in the first quarter of 2008, although it is still 29.7% below. This figure means that a 90 m2 home, with an average value, would have a price of €135,630, compared to €131,310 last year.
In addition, for the second consecutive period, the communities with the highest increase have been the Balearic Islands (8.1%), which maintains the leadership in the increases for the fifteenth consecutive month, Navarra (6%), Comunidad de Madrid (5.2%) and the Valencian Community (5.1%). With the exception of the Valencian Community, which registered an increase of 5.4% in the third quarter, all the other regions have accelerated their growth in this last period of the year, increasing the differences with the rest of the regions. In this sense, the only area of Spain in which there was an increase above 3% is the Canary Islands, with 3.9%.
On the other hand, the fourth quarter has also marked the downward break in house prices in Galicia, which had registered falls for six consecutive quarters. On this occasion the price has remained stable, with a slight increase of 0.1%.
At the provincial level, the increases in Malaga (+11.2%) and Alicante (+9.3%) stand out. On the contrary, the provinces that have shown the most negative variations have been Cáceres (-4.0%), Lérida (-3.7%), Jaén (-3.2%) and Zamora (-2.4%). .
RENTS STABILIZE UPWARDS
After a start to the year marked by irregularities, in recent quarters the rental price has consolidated a general upward trend throughout Spain. In fact, in the last quarter, the only exceptions have been Córdoba and Huesca, which presented year-on-year contractions of 1.5% and 0.7% respectively. On the other hand, the greatest increases in the interannual rental price are presented by Jaén (+12.3%), Málaga (+12.0%), Cádiz (+8.5%), Barcelona (+8.4%) and the Balearic Islands (+8.2%).
Regarding the total figures, Barcelona (€18.21/m2/month) once again leads the ranking in terms of higher prices, with Madrid in second position (€15.88/m2/month) and Guipúzcoa in the third (15.61 €/m2/month). In the lowest area of the ranking we find the only two provinces with rent units below €5/m2/month, these being Jaén (€4.81/m2/month) and Cuenca (€4.90/m2/month ).
At the municipal level, the provincial trend is replicated. The only municipalities with rents higher than €15/m2/month are still Barcelona, Madrid, San Sebastián; which has been joined in these three months by Marbella, with €17.28/m2/month; Castelldefels, with €16.19/m2/month and Hospitalet de Llobregat, with €15.31/m2/month. On the other hand, the municipalities with more than 50,000 inhabitants with the lowest housing rent are Elda, Linares, Puertollano, Lorca and Alcoy; with units less than €5/m2/month.
SLOWDOWN IN CONSTRUCTION
Despite the increase in housing prices, the Gesvalt report has also detected a slowdown, during the first nine months of the year, of two of the fundamental indicators that mark the behavior of the real estate market. At the end of the third quarter of 2022, the accumulated data for work management permits has reflected a slight contraction of 0.9% compared to the same period last year.
The decline in the number of final construction certificates has been more pronounced, whose accumulated data fell by 3.7%. The Communities in which the most certifications have been carried out have been the Community of Madrid (19.1% of the total), Andalusia (16.9%) and Catalonia (15.0%). In the volume of work management permits, Andalusia is at the top (19.8% of the total), followed by the Community of Madrid (19.5%) and Catalonia (14.7%).
