Compared to last year, the average price of resales in the Comunidad Valenciana increased a 4,97%. This is the third largest rise next to the Balearic and Canary Islands, according to the monthly newsletter of pisos.com.
The average price of resales in Spain reached 1.546 euro per square meter in December. This is an increase of 0,69% compared to the same period in 2015, but a slight decrease of 0,16% compared to November.
The CEO of pisos.com, Miguel Ángel Alemany emphasizes that “it is already tangible that the prices have found a balance” . He believes that the variables are stable and therefore “a clear sign” that this tendency will persist in 2017.
Alemany explains that if no new unusual evolutions are registered the number of resales contracts as well as mortgages will evolve in the same positive manner. He does stress the importance of thorough personal financial analyses before granting any mortgages. This is essential for the protection of the entire sector.
The head of the real estate portal adds that “bankers hold the key to keep the mortgage default ratio under control”.
Balearics (+6,36%), Canary Islands (+5,69%) and the Valencian Community (+5,69%) are the regions with the largest grow. The most noticeable drops were in Basque Country (-6,48%), Cantabria (-4,97%) and Castilla & Leon (-4,04%).
The biggest monthly fall was registered in the Canary Islands (-2,14%) while the steepest rise was for Castilla-La Mancha (+1,55%). The most expensive region in December 2016 for resales was the Basque country with 2.639 euro/m², the cheapest Castilla-La Mancha with 922 euro/m².
In the last two years the Northern Costa Blanca between Altea, Moraira and Javea has seen a significant rise in property prices since the crash of 2008. At both the Altea and Moraira offices we have extensive portfolios of properties for sale, with some extremely well priced and good value homes. If you have a budget in mind please feel free to give us a call and one of our friendly staff will show you what we have available. Now is possibly one of the best times to buy as the prices are still on the rise.
If you are interested in joining the others on this positive wave in real estate in the Costa Blanca. You are thinking of investing in property in Altea or in the area? Don’t hesitate to contact us or our Moraira office.