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SOCIEDAD DE TASACION

Sociedad de Tasación publishes a new edition of the Real Estate Trends Report (New Housing) which includes the evolution of the price of New Housing during the second half of 2023, as well as other indicators corresponding to the fourth quarter of 2023. The study concludes that, despite the slowdown in residential market activity caused by the rise in interest rates and the deceleration of both home sales and mortgages, the average price of new housing has reached €2,871 per sqm, after experiencing an increase of 5.1% year-on-year.

 

  • The average price of new housing reaches €2,871 per sqm in Spain at the end of 2023, and it moderates its upward pace for the fourth quarter.
  • Generalised price increases in the 17 autonomous communities, with a positive year-on-year variation ranging from 2.5% in Castilla-La Mancha to 6.8% in the Balearic Islands.
  • The rise in housing prices and the increase in interest rates tighten access to housing; the Accessibility Index decreases by 18% over the last year to 73 points.
  • The Confidence Index has declined for six quarters in a row and stands at 46.7 out of 100, again below the break-even point (50).
  • The cost of new construction continues to rise, increasing by 8.1% over the last year, reaching €1,278 per sqm by the end of 2023.
  • Nearly three out of four new housing starts in 2023 have an "A" label in terms of CO2 emissions.

Full details of the last report can be checked at the following link: ST Sociedad de Tasación Residential Real Estate Trends Report

 

 

 

 

 

 

 

 

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