There is housing prices In Alicante? This is the question that arises after learning the latest data published by the main real estate portals this Thursday, which reflects this. There was a slight decrease last October is the price per square metre. Yeah, a fall that barely eases accumulated increase since last year, i.e. around 11%Time will tell whether it will continue or, on the contrary, homeowners will once again increase the amount they demand for their homes.
decline in sales It may suggest that the price decline, which has already been in a downward trend for two months, will continue in the coming months. supply shortage It works against buyers and kept prices rising until last month.
A trend that was interrupted in October. see it this way IdealistAverage cost per square meter of occupied housing down 0.1% Compared to the maximum level reached in September 2,040 euros. Of course, on an annual basis, so Compared to October 2022 figures, the increase of 11.2% was maintained.
Moreover, the change in trend does not reach all populations. For example, in the city Alicante House prices increased by 1% in October, reaching 1,859 euros; this represents a 15.1% increase in the interannual rate. It also rose 0.9% monthly and 7.4% annually in Alcoy; in Benidorm, where the metro rose to 2,477 euros in October, up 1.3% and 12.4% year on year; or in Sant JoanFollowing monthly increases of 4.8% and annual increases of 21.9%, 1,964 euros have already been paid.
On the contrary, there is a monthly decrease of 0.5 percent among large municipalities. OrihuelaUp to 2,171 euros, although yes, houses are still 6.5% more expensive than last year. The price dropped at the neighbor’s too TorreviejaIt rose by 0.2% to 1,803 euros, which reduced the annual increase to 15.5%, or reached 1,268 euros in Elche, where in October the value of houses lost 0.2%, but they accumulated an annual increase of 11.9%.
According to Idealista data, this was the first monthly decline in house prices in the province since September 2021.
Data from the other major Spanish property portal shows the brakes are even greater. photo housethis is also a 1.1% decrease In this case, the housing price in October was determined as 1,930 euros. Of course, the same as before, a considerable amount The price increase compared to last year was 10.6%.
Fotocasa also saved the city of Alicante from this global price decline in the province, achieving a 1.3% recovery in October, leaving the annual figure at 12.8%.
In any case, the state’s behavior will be somewhat better. regional averagebecause according to this latest portal, prices across the Valencian Community would have fallen by 0.5% in October; This limits the increase per square meter to 8.6% last year.
Behind Explosion in operations at the end of the epidemic, The real estate market began to slow down at the end of last year as rising interest rates made financing more expensive. In the case of Alicante, it took longer for the market to cool down. Due to the large weight of foreign buyers, who have carried out about half of the transactions in recent years. However, the latest data from the Ministry of Transport, Mobility and Urban Agenda already points to a slight decrease in the second quarter, while data from INE points to the same downward trend in July and August.
With the data confirmed by the ECB this Thursday, Euribor is currently at 4.16% compared to -0.502% at the end of 2021.