Madrid (EFE).- The price of free housing increased by 3.1% in the first quarter of the year to 1,788.4 euros/m2, the highest amount recorded since the end of 2010, according to published data this Thursday by the Ministry of Transport, Mobility and Urban Agenda.
In addition to this year-on-year rise, house prices grew by 2.2% compared to the three previous months in a context marked by the rise in interest rates to curb inflation and the increase in the cost of financing.
Since the fourth quarter of 2010, when it exceeded 1,825 euros, the square meter had not reached such an expensive price.
This new increase occurs after the price of housing closed 2022 with a rise of 3% to 1,749.2 euros/m2, the highest figure since mid-2011.
15% below maximum
However, the price of housing is still almost 15% below the maximum it reached at the beginning of 2008, in the midst of the “boom” of the sector, when in the first quarter of the year it reached a maximum of 2,101.4 euro/m2.
By type of home, those up to five years old became more expensive in the first quarter of the year by 6.6% in the interannual rate to 2,112.1 euros/m2, the highest price since mid-2010, when it was exceeded by 2,115 euros.
In addition, housing up to five years showed an increase of 1.4% in its price compared to the three previous months.
For its part, the price of housing older than five years grew by 3% to 1,778.1 euros, also the highest figure since the end of 2010, when it was at 1,799 euros/m2.
With respect to the previous quarter, housing older than 5 years became more expensive by 2.3%.
In the case of subsidized housing, the price rose 1.9% year-on-year in the first quarter to 1,163.7 euros/m2, the highest data since the beginning of 2011. The increase was more moderate, from 0.5 %, compared to the previous quarter.
Between January and March of this year, 151,214 appraisals were used, 9% less than a year earlier, these being an essential requirement when requesting a mortgage.
Balearic Islands, at the head of the climbs
By autonomous communities, the price of housing rose in all of them. The largest increase compared to the same period in 2022 was registered in the Balearic Islands (7.3%); followed by Andalusia (4.8%); Canary Islands (4.7%); Madrid (4.6%) and Galicia (4%).
However, quarterly price falls were observed in Aragón (-1.3%), Ceuta and Melilla (-1.2%) and Cantabria (-0.5%). The greatest increases occurred again in the Balearic Islands (3.9%), followed by the Valencian Community (3.5%) and Madrid (3.1%).
At a general level, the most expensive square meter was registered in the Community of Madrid (2,978 euros), followed by the Balearic Islands (2,803 euros); Basque Country (2,541 euros) and Catalonia (2,186 euros).