Prices for residential real estate in Spain is growing at the fastest price since the beginning of the crisis. This tells the portal about Spanish property Spanish Property Insight , citing data from the National Institute of Statistics and Registration of the Spanish court.
By the end of September 2015 the average price of housing in Spain increased by 4.5% compared to the same period last year and by 0.7% in comparison with III quarter. Prices for new homes in the same period increased by 4.3%, slightly lower than data for the second quarter (+4.9 per cent). Volume sales increased by 4.5%.
Annual index of housing prices shows the price growth for 6 consecutive quarters, indicating a stable recovery, not a temporary jump, notes Spanish Property Insight.
"In the coming quarters we will see price fluctuation as a sign of market correction. And will become even more obvious that the market is recovering at different speeds – when in some regions of the country prices and volumes of sales are growing particularly rapidly, but continue to decline in other regions," says Beatriz Toribio, head of research at Fotocasa portal.es.
By the end of September 2015 compared to the same period last year, most housing prices have increased in the Balearic Islands (+8.4 per cent). They are followed by Madrid (+6.9%) and Catalonia (+6,1%). In Barcelona and Madrid, the prices in most areas which grow for many months in a row. In regions such as Extremadura and Castilla-La Mancha prices continue to fall (-5%).
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