The residential market, which grew in 2017, will remain positive throughout 2018. This is the main conclusion of the first data of the year, where the price of housing is on the rise both in Spain and in Europe.
Getting a house forced, increasingly, to increase the budget. And not only happens in Spain, but throughout Europe.
The ‘Statistics of housing prices. 3rd Quarter 2017 ‘, published by Eurostat, certifies it. Registering, between the months of July and September 2017, the largest increase in the price of housing in the last ten years.
Specifically, 1.7% more than the previous quarter. And above 4%, both in the whole of Europe and in the eurozone.
In both cases, Spain is above continental statistics. Reaching a 6.7% increase in the interannual rate.
A house price that could continue to rise throughout 2018, as well as the number of purchase transactions. In response to the data from the report ‘Real Estate Sector Trends 2018’, which has just made public ST Valuation Society.
Rise in the price of housing
The price of housing is picking up speed in Europe, climbing at the fastest pace in the last ten years. Reaching a level comparable to that of the second half of 2007.
According to Eurostat, in the third quarter of 2017 the price of housing increased by 1.7%. Both in the whole of Europe and in the euro zone.
Shooting, in interannual rate, between 4.1% in the eurozone and 4.6% among all EU countries.
Quedando atrás una década marcada, primero por la caída de precios y después por los repuntes que comenzaron en 2013.
De hecho, solo un país registra aún leves caídas en el precio de la vivienda: Italia. Mientras que tres encadenan ya todo un año subiendo a doble dígito: República Checa, Luxemburgo e Islandia.
Spain in the European Top 15
Among the largest quarterly rises in the euro area, the Netherlands (+ 3.7%), Belgium (+ 3%) and France (+ 2.9%) stand out.
This increase is multiplied in interannual rate. Shooting in the Czech Republic (+ 12.3%), Ireland (+ 12%), Portugal (+ 10.4%), Hungary (+ 10.2%) and the Netherlands (+ 10.2%).
Spain also appears above the average increase, with a rebound of 1.8% compared to the previous quarter. And up 6.7% compared to last year’s data.
A solid increase in a consolidated market, with a path to keep growing, leaving behind other European countries. Like Germany (+3.6 year-to-year), Croatia (+ 3.8%), France and Belgium (both with 3.9%), Denmark (+ 4.3%), Austria (+ 4.9%) or United Kingdom (+ 5%).
Not to mention Italy, where moderation continues in prices after falling 0.9%.
Good prospects for 2018
The price of housing will not stop in 2018. Especially in large cities.
The last report of ST Valuation Society, foresees an average increase of 5.5% in new construction housing. In addition to an increase in the purchase of homes of 14.1% and a rebound in the signature of mortgages of 9.4%.
The appraiser does not doubt that the real estate market will continue this year with the recovery process started in 2015. And although it remains to be defined how far the ‘real’ price of housing will go, this is a moment of stability for the sector.
With a view to the end of 2018, some 500,000 real estate transactions are planned. As well as the concession of about 315,000 mortgages.
Provided that certain aspects of uncertainty do not obstruct the sector. As the transfer of the recovery to the family economy or the tax regulation of the rent.
Without forgetting the increase in the price of housing in certain areas. As a consequence, not only of the lack of finalist soil, but also of the shortage of skilled labor. Elements that influence the cost of housing.
