In residential map, Spain follows a double speed in its buildings. In fact, the latest statistic with the cadastral value puts Madrid well above the average.
The containment of the price of the house that we lived in year 2015 has been left behind. Despite an Euribor in historical lows and the cheapening of mortgages, the value of real estate is in full recovery. And this has been noted by the Administration in the review of capital gains, despite the judgments against.
The increase in real estate taxation in many municipalities has come from the hand of cadastral revisions and the Tax on Real Estate. And what better tool than the cadastral value to take the measure of the residential market.
Of the last statistic of the General Direction of the Cadaster we can draw several conclusions. Although the most striking is the average valuation of the various autonomous communities.
The Community of Madrid, with a cadastral value that doubles the Spanish average, leads statistically. Far above Galicia and Extremadura, they seem not to go back.
Real estate in Madrid
The regional data of the Cadastre leave curiosities, such as the abundance of real estate in Andalusia. A community with 6,660,248 referenced properties and an average cadastral value of 56,225 euros.
However, it is not the Andalusians who have the best average in their properties.
Madrid, with 4.288.993 properties, is the fourth community at national level. But the first in average cadastral value with 118.218 euros.
This number, which practically doubles the average of all Spain (59,425 euros per property), is a unique case. It includes not only the buildings of the capital but also those of the whole region.
In fact, it surpasses in almost 38,000 euros to the second most valued region that is Baleares and in 51,000 euros to the third that is Catalonia.
Other data of the cadastral value
The more than 38 million properties owned by Spain are valued at over two trillion euros. A total cadastral value that starts from the calculation of the IBI, of the municipal surplus value and the income in the IRPF for second homes.
Together with communities that exceed the state average, others that are well below the average value of real estate.
Here we find three regions whose average cadastral value does not reach 36,000 euros: Galicia (34.218e), Extremadura (34,470 €) and Castile and Leon (35,514 €).
Between all of them we rediscover that double speed of the real estate market.
