Sales of houses on the secondary market in Talavera increased year-on-year, although they showed a decrease on a quarterly basis. The city follows a trend at the national level: a noticeable increase over the past 12 months, but a decrease in the first quarter of 2022.
The data below was provided by the Idealista real estate portal. The organization also collects data on annual, quarterly, and monthly market developments in major Spanish municipalities.
Looking at sales trends by district, the Old quarter grew the most, with an annual change of 18%. The area has become a new recreation area after a long and thorough renovation. It ranks third at a high price — the cost per square meter reaches 786 euros.
In general, sales growth in the city amounted to 3.5% compared to March 2021, and the cost per square meter reached 748 euros. The price per square meter grew by 2.2% last month, but in the first quarter of the year it decreased by 1.7%.
There is an explanation for the decline in the national market in this first quarter of the year.
Francisco Iñareta, Idealista's spokesman, explains: "Prices remained stable in the first quarter of 2022, although the number of sales reached the level of 2008. However, most regional markets outside major cities and coastal areas continue to decline, as there is no reduction in supply."
Iñareta also points out that the situation is abnormal in many aspects, which makes it extremely difficult to predict the development of the sector. However, this trend is likely to continue due to the country’s high inflation rate.
Inflationary price increases may reduce recovery operations. On the other hand, inflation can stimulate investment in residential real estate, as in a "safe haven".
Despite the impact that the Russian-Ukrainian conflict has on the global economy, the secondary residential real estate market in Talavera remains positive. Last year, some market fluctuations reached historic highs. Whether it was annual, quarterly or monthly indicators, growth rates prevailed.