The price of housing in the Canary Islands closes 2018 with a rise of 19.78% - La Provincia

The price of housing in the Canary Islands closes 2018 with a rise of 19.78% - La Provincia

The price of housing in the Canary Islands has been at the end of 2018 at 1,863 euros per square meter, 19.79% more than in December 2017, according to the annual report of sale prices of, which He adds that it is the third largest increase in Spain.

By province, Las Palmas registered an annual growth of 19.85% in December - 1,863 euros / m2 - while in Santa Cruz de Tenerife it was 19% - up to 1,907 euros / m2--

In the whole of Spain, the price of housing has been at the end of 2018 at 1,673 euros / m2, 6.4% more than a year earlier. By autonomous communities, Madrid (+ 20.7%), the Balearic Islands (+ 20.2%) and the Canary Islands (19.8%) were the Autonomies that have grown the most from one year to the next, while the falls registered in Murcia (-7.1%), La Rioja (-6.3%) and Extremadura (2.7%).

The most pronounced monthly rise was recorded in the Canary Islands (+ 2.73%), while the most marked decrease was recorded in the Balearic Islands (-3.6%). The most expensive region in December 2018 was the Balearic Islands (2,859 euros per square meter) and the cheapest region Castilla-La Mancha (877 euros per square meter).

The director of studies of, Ferran Font, believes that, although the house has clung to its route upwards in 2018, the rhythm will begin to warm up, because "in certain areas it has reached a ceiling".

For Font, moderation is the natural response of the market to an expansive cycle "that will run up against the slowdown in the economy". Thus, it considers that the residential prices will end up accusing the problems of accessibility to which the potential buyers face, "headed by the lack of previous saving and the expensive of the financing".

Regarding this year, Font believes that the real estate sector will be subject to "currents of change" that could influence "both the prices and the level of purchases or loans granted."

"We will have to see how the housing responds to the entry into force of the new regulations regarding rental and mortgages, while we will closely monitor the possible increase in interest rates by theEuropean Central Bank(BCE) ", Font recalled.

In addition, he added that the dilation in the approval of the Budgets could end with the advance announcement ofgeneral elections. "The elections tend to spur the urbanism of cities and regions, so we expect a pulsating real estate scenario," he added.


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