Shortage of new construction will drive up house prices, that have already experienced an increase of one 6,3% in Spain
"Home buying should be fashionable"
- Europa PressMadrid
01/08/2016 14:00
The Professional Association of Real Estate Experts (Apei) see a "good time" to buy a home, since second-hand homes are not going to continue to lower their prices.
The president of Apei, Óscar Martínez, highlights that two years have passed in which the market "is moving" and "It is noticeable that the rise in prices is widespread“.
According to the latest Eurostat data, Housing prices
rose in Spain by 6,3%, The highest climb since 2007, and a 4% in Europe. "There's not a lot of new construction and this will push prices higher.", Martinez predicts, who thinks it's a "good time" to buy.
In this sense,, predicts thatThe second hand won't go down any further And the tendency is going to be to "stay or go up somewhat", especially in places where housing is scarce, as there is "Very little new construction“.
Also, advises not to sell unless necessary, since "it is true that if you sell cheap, you buy cheap, But if you're thinking about investing, it's not the time to sell. Now it's time to sell if it's strictly necessary to change your home, for example".
Recovery will continue at a slow pace
In general, The house in good condition is located about a few minutes away.prices somewhat higher than in the 2013, when prices were falling by a 45% In relation to the high point of the housing bubble, in 2007, according to Apei, which currently brings together a network of 1.300 real estate agencies throughout Spain.
The average price of vacant housing per square metre is slightlyaround the 1.600 Euros square meters, In the face of the 2.085 Euros from 2007, prices very similar to those recorded in 2004, according to data from the INE.
"What is below these prices corresponds to products with very little output", explains the president of the Apei, who assures that "It is a very poorly located product and of poor quality that is sold or tried to be sold very cheaply. It is a product that would be demolished in other countries.".
About Group Investments, indicates that it occurs in theLarge Capitals, such as Madrid and Barcelona, but it is not registered in the small capitals yet.
On the other hand, Martinez believes that, After the summer, And if unemployment continues to fall, The recovery will continue, albeit at a "slow" pace, while warning that the threat is now in political instability. "If insecurity persists, will cause delays in recovery.", Predicts.
News: El Mundo Newspaper