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11 de April de 2022
In the first three months of 2022, the housing price rose by 3.7% year-on-year.
At Gesvalt, we have published our Q1 2022 Housing Market Report. The study, carried out with own data by the Research department, reflects a 3.7% increase in housing prices compared to the same period in 2020. This is the fourth consecutive period with rises above 3%, that is, a continued rise over the full year. This trend is explained as a response to the decrease in uncertainty and price drops seen in 2020. Likewise, despite the current uncertainty, Gesvalt experts anticipate a price stability scenario for 2022.
After this new increase, the average housing price stands at € 1,439 per sqm, meaning that the price of a 90 sqm home would stand at € 129,510, compared to € 124,920 last year.
Furthermore, Gesvalt’s Housing Market Report states that the upward price trend has been global, since it has occurred in all the autonomous communities with the exception of Galicia and Asturias, which have seen slight declines. In this sense, regions with the highest price rises include: the Canary Islands (5.4%), the Balearic Islands (5.0%), La Rioja (4.6%) and the Valencian Community (3.2%). As regards the Community of Madrid and Catalonia, they saw increases of 2.7% and 1.2%, respectively.
Contrary to the national trend, Galicia has seen a slight decline in housing prices for the fourth consecutive quarter. On this occasion, the drop was 0.5%. The same behaviour has been observed in Asturias, where prices have fallen by 0.3%.
On the other hand, the Balearic Islands have continued to lead the housing price ranking, with an average price of € 2,440 per sqm, surpassing Madrid, which stands at an average of € 2,328 per sqm. The third position is occupied by the Basque Country -the last autonomous community exceeding € 2,000 per sqm-, reaching a value of € 2,259 per sqm. At the bottom of the ranking is Extremadura, with € 842 per sqm, preceded by Castile La Mancha with € 863 per sqm and the Region of Murcia with € 987 per sqm, these being the only communities with prices less than € 1,000 per sqm.
Although rental prices continue to trend upwards, their progression is more irregular than that seen in sale prices. In this sense, the highest YoY increases in rents are recorded in Cuenca (+12.3%), Girona (+10.3%), Huelva (+9.1%), Málaga (+8.5%) and Pontevedra (+8.2%). On the contrary, the largest contractions are recorded in Lleida (-6.6%), Orense (-5.2%), and Salamanca (-3.1%).
When analysing the total monthly price, Barcelona once again exceeded the barrier of € 16 per sqm, being the only province to have done so and placing itself at the top of the national ranking. It was followed by Madrid (€ 15.00 per sqm), Gipuzkoa (€ 14.63 per sqm) and the Balearic Islands (€ 13.71 per sqm). At the bottom of the ranking, provinces with the least tendency to rent and, therefore, lower rents, include Jaén, Cuenca and Teruel, all of them with monthly rents below € 5 per sqm.
From a municipal point of view, the trend was similar to that seen at the provincial level. The only municipalities with monthly rents above € 15 per sqm continued to be Barcelona, Madrid, San Sebastián, to which Castelldefels has joined in these three months (€ 15.12 per sqm). In these cities, average rental prices of 90 sqm homes are around € 1,600. In contrast, municipalities with populations in excess of 50,000 with the lowest housing rents are Elda, Linares, Puertollano, Lorca and Ponferrada; with rents less than € 5 per sqm.
The year 2021 was characterised by the great effort and resilience of the developer sector, which was able to withstand the increase in housing demand. Over the entire year, the number of completion certificates and construction management approvals reflected a strong increase compared to the previous year, something normal considering the exceptional situation in the months of March, April and May 2020. Construction management approvals increased by 26.6%, while completion of work certificates increased by 6.1%. The communities with the highest number of completion certificates continued to be the Community of Madrid, the Community of Valencia and Andalusia. On the other hand, according to the number of construction management approvals, Andalusia ranks first, followed by the Community of Madrid and Catalonia.
