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  • The real estate market continues to boil because, according to experts, citizens interested in buying a property are hurrying to close operations before mortgages become even more expensive with the upward trend of the Euribor. And in this scenario, Malaga has become one of the places with the highest increases. In fact, the province is currently leading the rise in the price of second-hand housing in Spain, with a year-on-year increase of 11.5% at the end of August, which leaves an average value of 2,682 euros per square meter, according to the data published this Monday by the real estate portal Fotocasa. Malaga thus exceeds other tremendously significant increases that have occurred in provinces such as the Balearic Islands (10.9%), Alicante (10.7%), Guadalajara (10.4%), Granada or Navarra (both with 10.1%) .

    At the national level, the increase has been 5.2% for a price of 1,988 euros per meter. Fotocasa warns that it is the highest increase detected in the last three years (since July 2019).

    The price of housing has been increasing for seven months, but until now, they have always been moderate rises below 4% at the national level. However, in August the temperance is broken, and there is a significant rise, since it exceeds 5% year-on-year. This dynamic increase is probably due to the fact that the demand for buying a home has risen very strongly, because citizens are looking to acquire a property before mortgages become even more expensive due to the rise in the Euribor", stated María Matos, director of studies at Fotocasa.

    In her opinion, this trend will begin to moderate when the market "finds a balance and uncertainty begins to fade." Fotocasa also links this price increase dynamic to the lack of housing stock in the market. "We must remember that we have spent a year and a half with extraordinary purchase figures and, however, with a great shortage of product increased by the stoppage and delay of new construction promotions," adds Matos.

    In 80% of the 50 provinces analyzed, the year-on-year price of housing rises. In terms of prices, Madrid is the most expensive province with 3,359 euros per metro, followed by Gipuzkoa (3,220), Illes Balears (3,184), Barcelona (3,013), Bizkaia (2,846), Álava (2,583) and Girona (2,246), just ahead of Malaga. On the other hand, the province with the price per square meter below 1,000 euros is Ciudad Real with 960 euros.

    At the level of provincial capitals, the value also increased compared to the previous year in 40 of the 50 analyzed. Seven of the capitals have an increase of more than 10%, including the city of Malaga (2,706 euros on average). They are Badajoz capital (14%), Alicante (14%), Pamplona (13.4%), Guadalajara (11.9%), Santa Cruz de Tenerife (11.7%), Palma de Mallorca (11.4%) and Malaga capital with 11.3%. The most expensive provincial capital is Donostia-San Sebastián with 5,756 euros per month, followed by Barcelona capital (4,401), Madrid capital (4,203), Palma de Mallorca (3,474), Bilbao (3,395), Pamplona (2,855), Vitoria ( 2,764) and Cadiz capital (2,734).