The significant increase in mortgage costs has not stopped the rise in loans for the time being. price In Alicante, far from being controlled, even accelerated in the first quarter of the year. At least this is reflected in the latest data provided by the main real estate portals. double-digit increases year over year at the cost of square meters.
A condition they attribute to a number of causes – supply reduction available in significant numbers Transactions carried out in cashie without funding or with very low sums – but in any case it points to the fact that: demand is still high.
Therefore, although the data may differ slightly, the trend shown by the studies photo house And idealist the same. In the first case, the Adevinta group portal indicates an increase in the average price in its province. 1.6% in the last quarter, which brings the annual increase to 15.2% with residential experience in the area last year. A figure that represents the fourth largest increase in the entire country in the last twelve months.
Idealista, for its part, is a Housing increase in the first three months of the year was 3.1 percentwhich means an increase 11% per annum, until you place it at an average of 1,908 euros per square meter.
This figure is an important acceleration Compared to the 6.5% annual increase calculated by the portal in March of last year, it exceeded the 10.1% increase that it closed the whole year. In fact, it is also the tallest in the historical series this portal has to offer, dating back to 2007.
It seems that neither the increase in interest rates nor the increase in financing costs could stop the interest rates. to charge intereststill very high,” says the Idealista spokesperson, Francisco Inareta. In this sense, they cite from the portal the fact that many buyers already have it as one of the reasons for this strength in demand. other host that they can be saved, so the need to finance a smaller amount to buy a new one.
In this sense, the significant weight of buyers should be added to the Alicante example. foreignwhich they usually buy in cash, without resorting to mortgages.
Likewise, Iñareta pointed out that the strong competition among banks meant that the increase in mortgage rates was not as pronounced as expected, and pointed out that this is another factor put forward by the banks. current housing stock remains low, after a large number of operations recorded in recent years.
Of course, it remains to be seen how long this trend will continue. Thus, the Director of Studies at Fotocasa, Maria Matos, that these very significant increases are “temporary” and that “andIt’s only a matter of time before the price starts showing signs of moderation.Taking into account the rate of increase in mortgage prices caused by Euribor”.
municipalities
According to Idealista on the basis of municipalities, the biggest increase in housing in the last year was recorded in Istanbul. Benijofarwith 26.7%. they follow him saint johnwith 23.4%; alteawith 17.9%; pedagoguewith 16.6%; denial And Catralwith 15.9%; Alicantewith 15.6%; benissawith 15.1%; And Vergerwith 14.2%.
Among large populations, increases of 11.9% Torrevieja (although it reached 18.2% in the La Mata region); orihuela, with 11.8%. increases are more moderate Elchewith 8.9% or Benidormwith 7.3%.
Despite the general increase, there are some segments where the effects of the increase in financing have already begun to be noticed. They are the municipalities of the interior where there is no tourist demand. For this reason, Aspe, Elda, Xixona, Monovar, Petrer, Sax or Villena they are already registered fall Comparison prices on a yearly basis.