The growth of housing prices will continue to be “significant” in the coming quarters, although a certain tendency to moderation, up to around 5% on average in the biennium 2019-2020. This is indicated by the study service of Caixabank in your last monthly report, in which highlights that the real estate sector is in a phase “more mature” of the cycle after the last known data on the sector.
He housing prices grew a remarkable 6,8% year-on-year in the first trimester, driven by the rebound in the price of new housing (10,4%, In front of a 8% the fourth quarter of 2018), while the second-hand slowed down (6,2% in the first trimester, in front of 6,4% in the previous quarter).
Looking ahead to the next quarters, Caixabank Research predicts that house price growth will moderate around the 5% on the average of 2019 and 2020, due to the entry of the sector into a more mature phase of the cycle.
Banks forwarded 16.187 mortgage operations from the past 6 of June, when the new law regulating real estate credit contracts came into force, until Friday, according to data from General Council of Notaries (CGN).
“In general terms, the work of the entities is being very correct and of great intensity, what is demonstrated in the small and even residual percentage of corrections required by notaries”, explained the CGN.
He Notarial College of Madrid draws attention to small entities, since it considers that some are simplifying their procedures by being less transparent.
[Source: Europa Press and Eldia.es]