Prices of new and used homes in Spain rose 29 percent between 2005 and 2009, due to economic stability, the formation of new households and the increase in earnings, reveals new indicator developed by Federal Mortgage Society (SHF). The presentation
SHF Price Index for Shelter, the general director of the institution, Javier Gavito Mohar, stressed the importance of the indicator to provide transparency and efficiency to the mortgage market.
"What we showed the U.S. subprime crisis is that prices do not take care of this sector can be transmitted quickly to the financial sector and real problems such as those established in other countries."
stressed that the index will show further, if this happens, the existence of speculation and allow buyers do not go to areas where there are price gouging.
explained that Mexico index will be published quarterly on the website of SHF, in "Statistics and Research", 45 days after the end of the quarter to which it relates.
"With the Index SHF-stressed," our country is one of the nations of the Organization for Economic Cooperation and Development (OECD) that have this information essential to the housing sector, in particular for the financial sector ".
Introducing the indicator, the director of Economic Studies Housing SHF, Antonio Puig Escudero, explained that the nominal appreciation housing cumulative 29 percent between 2005 and 2009 is equivalent to an annual increase of 6.6 percent.
The highest growth, with levels above 33.5 percent, were filed in Federal District Puebla, Guerrero, Tabasco and Morelos, while Tamaulipas, Chihuahua, Zacatecas, Baja California Sur and Chiapas showed smaller increases, 23.5, 23, 22.8, 21.9 and 21.2 percent, in that order.
said that the country's capital in 25 percent of prices is greater than or equal to 929 thousand dollars above the national average of 407 thousand pesos. Prices differ by attributes such as proximity to urban areas, level of development of the company, not only by the number of bedrooms, parking, elevators and floor area.
also revealed Puig Escudero based on the index over the past four years the average prices of new housing increased 7.4 percent more than the used.
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