The price of housing in Spain will increase in 2019 between 5 and 6% over 2018, up to an average price of between 1,750 and 1,800 euros per square meter, according to the forecasts of the real estate portal Pisos.com, which highlights the big differences between geographical areas.
In a press conference in Madrid, the director of studies of the portal, Ferran Font, has indicated that prices are in a continued rise in major cities since 2014, and in Barcelona and Madrid "are already at maximum", after increases in two digits in the last two years, and even in the center of Barcelona began in 2018 to descend, while in other areas, such as Extremadura, "the recovery is still incipient."
Font believes that price increases between 4 and 7% are "healthy", but that above 7% are "artificial".
However, it does not warn of a "real estate bubble", since it thinks that the increases will moderate in line with the expected economic slowdown.
"The problem is not in the evolution of prices, but in the little evolution of wages at a general level," he added.
According to the report of Pisos.com, in 2018 the 520,000 sales will be reached, with an increase of almost 13% with respect to 2017, and in 2019 there will be between 500,000 and 600,000 transactions.
"Going to 800,000 as there were in 2007 would be a bad sign for the sector," Font warned, explaining that in relative figures (transactions per thousand inhabitants) the regional market with the highest sales volume is the Valencian Community.
Pisos.com data indicate that 25% of home purchases are being made without financing, while mortgages, 40% are fixed rate and 60% variable, almost all according to Euribor.
About the rental market, the increase in the expected price will exceed 16% on average. In this sense, Font has recommended that leases be enhanced through tax incentives, instead of punishments for empty homes or price caps.
The 20,000 new housing for social rent provided by the Ministry of Development are, according to Font, "a first step to start walking" and increase the current 2.5% of housing of this type of Spanish park, which is "quite sonrojante "compared to 11% of European average.