The Opinion of Malaga It brings us a most interesting article, Malaga is located in one of the areas where most up housing, Don't miss detail!!
The buyer spends almost the 31% of their income to pay the mortgage, the highest percentage of all the analyzed.
The revival of sales in the real estate market keeps pulling to the rise in prices of housing, with Malaga as one of the Spanish provinces which are more sharply marking the rhythm of this new trend. The average price of housing completed in the province of Malaga has increased as well a 6% in the first quarter of 2017 in relation to the same period of the previous year, a value well above the Spanish average (1,8%) and just behind Alava (9,5%), Barcelona (7,7%), Palencia (7,1%), Las Palmas (6,9%) and Madrid (6,6%), According to data published yesterday by the tasadora society Tinsa.
The mean value of square meter in Malaga is now located in 1.408 euros but prices in the province are, Despite this rise, un 44,5% below the highs reached before the crisis. The highest average prices at the provincial level are located in Guipuzcoa (2.158 euros per square meter) and Vizcaya (1.992 euros), against the more affordable: Extremadura and Castilla-La Mancha West, starting from Toledo (693 euros) and Ciudad Real (699 euros), followed by Jaén and Caceres, both with an average value of 756 euros.
The report also refers to prices in Malaga, that have risen in the last twelve months a 4,5% (enough above the 1,8% average of the whole of the Spanish capital) and are placed in 1.373 Euro square meter.
In its report, Index of Spanish real estate markets (IMIE), Tinsa also analyses the financial effort required for the purchase of a home in eight Spanish provinces representative (Madrid, Barcelona, Seville, Valencia, Zaragoza, Málaga, Tenerife and the Balearic Islands), with the result that Malaga is which requires the purchaser to allocate one higher percentage of revenue in the first year of mortgage, in particular a 30,9%, slightly above Balearic, that occupies the second position with a 29,9%. The percentage of effort in Malaga is situated about 10 points above the average of the set of these provinces, It is of the 21,7%. Tinsa recalled, However, during the time of the housing bubble, the effort demanded from the Malaga buyer was even higher and reached the 44% of their income (in Spain the maximum was the 33%).
Another relevant piece of information included in the study of Tinsa is in Málaga, the percentage of the value of the home that is being financed through mortgage stands at an average of nearly 70%.
Also refers to what in Malaga are now required 8,3 years of salary to buy a House, before the crisis came to need 11,6. Balearic is, at the provincial level in Spain, which requires the greatest number of years of wage (12,4 años). At the national level, the average is of 6,1 years of salary to the 8,1 that it needed during the bubble.
As for the medium-term marketing of homes offered for sale in Málaga, Tinsa says that this is going to the 9,3 meses, below the 9,9 national average. The trend, in general, It is a progressive decline in these terms, that confirms that the demand is more active than in previous years.
National data
In Spain, the average price of the completed housing (new and used) It recorded in the first quarter of the year a growth of the 1,8% over the same period of the previous year, to reposition themselves in 1.237 euros per square meter, According to the IMIE's Tinsa, It elaborates statistics from housing valuations made by the adjuster.
In this way, Since maximum adjustment of 2007 It has fallen from the 40% for the first time in three years, up to the 39,6%, Although the director of the Research Department of Tinsa, Jorge Ripoll, He said that the market is still characterized by a 'selective' recovery. "The general framework is stabilization of prices. Although there are locations that show clear signs of recovery remain also markets where prices are still adjusting. It is mainly in enclaves where demand is weak and the stock press values down», explained.
By communities, Cataluña (+7,5%), Madrid (+6,6%) and the Canary Islands (+5,3%) they led the annual rises in the price of housing. Also the regions of Galicia were above the national average (+2,8%), Cantabria (+2,7%) and Extremadura (+1,9%), It grows moderately. The most significant declines occurred in Navarre (-5,6%), Murcia (-5,0%), La Rioja (-4%) and the Balearic Islands (-3,6%).