Residential Market Barometer Num. 9

GLOVAL Analytics continues its quarterly analysis and research and publishes its Residential Market Barometer to monitor behaviour in residential market values in the Metropolitan Areas of Madrid and Barcelona. We also give a brief description of the economic background and the state of the real estate market.

In this ninth issue, we continue to analyse the quarterly and yearly trend in house values.

In terms of macroeconomic variables, the figures are weakening slightly. Although the revision of GDP for the previous quarter is upwards by one point, the provisional GDP growth for this fourth quarter is lower than in the previous period, standing at 2.7%. The unemployment rate has risen slightly by two tenths to 12.87% nationally. The Bank of Spain’s forecasts continue to be more cautious and the October figures have been adjusted downwards.

If we analyse the Madrid area in more detail, all the municipalities continue to have a positive evolution in the unit value of housing. The municipalities of Las Rozas de Madrid and Alcobendas continue to lead the way in terms of rises, with the municipality of Leganés now joining them. The annual evolution of the average unit value in Madrid is +6.6% and +8.5% in its area of influence.

The municipality of Barcelona continues to show annual growth in its average unit values, with a rise of +2.4%, which is somewhat lower than in September when it stood at +4.6%. In terms of the municipalities in its area of influence, although most have seen rises, Sant Joan Despí has seen a slight decrease, while the fall has been somewhat greater in Sant Adrià de Besós. Overall, the average increase for the metropolitan area is +1.9%.

You can download below the seventh edition of the report on the Residential Market Barometer here: