The cumulative price of housing for sale has risen in the Valencian Community by 13% in five years -compared to 2016- and 0.8% more in one year -compared to 2020-, according to the study ‘Cumulative variation of housing in Spain in 2021’, based on the prices of housing for sale in December of the last 16 years of the Fotocasa Real Estate Index.

However, this latest house price marks a decrease of -14% in 10 years -compared to 2011- and -40% in 15 years -compared to 2006-.

“Indeed, the data indicates that the price of second-hand housing has increased in the last five years, but contrary to popular perception, it has not done so as high as is estimated among citizens, presenting 16% of cumulative rise at a national level”, explained María Matos, Director of Studies and Spokesperson for Fotocasa.

Analysing the prices paid for a home for sale in 2016, the average price per square metre of housing has increased by 13% in the Valencian Community (from 1,287 euro/m2 in December 2016, to 1,448 euro/m2 in December 2021), according to the Fotocasa study. Thus, Valencians five years ago (2016) had to pay an average of 102,928 euro for the sale of an 80 m2 home, compared to the 115,805 euro paid on average in 2021.

By provincial capitals, housing in the capital of Valencia has increased its value by 32% since 2016 and, in other words, for an 80-square-meter home for sale, 129,392 euro were paid 5 years ago (€1,617/m2 in 2016), while in 2021 170,410 euro have been paid (€2,130/m2 in 2021).

Meanwhile, two more Valencian cities have a positive cumulative compared to five years ago (2016) and they are Alicante (16%) and Castelló de la Plana (7.0%).

Mark Nolan