More than 900 experts and professionals from the real estate sector have analysed the evolution and perspectives of the different regional markets and in that analysis, Madrid and the Canary Islands are the regions with the best stops. In both autonomous communities there is great confidence in the evolution of the real estate sector during 2018. While Madrid has a 61,9 of 100, the Canary Islands get a 60,7; behind is the Balearic Islands, with 59,7. The index reached its lowest value in the historical series in December 2012, with 30,6 points. In view of the data, the situation of the sector has improved considerably. In 2018, the only region where a significant fall is expected is Catalonia, where the business confidence index will stand at 56,2.
Experts believe that 2018 will be a “good” year for the Canary Islands in the evolution of new home sales and also in prices. In the two provincial capitals – Las Palmas de Gran Canaria and Santa Cruz de Tenerife – they estimate a growth of around 5%, above the one registered in 2017. Last year the average price in the Canarian capitals stood at 1.490 euros.
At the national level, according to this report, in the second half of 2017, the average price of new housing increased by 3.3% in provincial capitals, reaching 2.227 euros per square meter and doubling the growth of the first half of the year, that stood at 1,7%. According to this study, the average price of a typical house of 90 square meters in provincial capitals is 200.400 euros. In the rest of the studied cities, which are not provincial capitals, the average price of a new house was 1.580 euros per square meter, which represents an increase of 1,6% compared to December of the previous year.
The price of new housing in Spain has experienced an increase of 5% in the annual average, the highest increase since 2007, with prices in cities such as Barcelona and Madrid approaching pre-crisis levels. Although the variation is not uniform throughout the territory, it is worth noting that price decreases are no longer experienced.
Source: Canarias 7 – 08.01.2018