The price of new housing in the Valencian Community stood at the end of 2020 at an average of 1,723 €/m2, which implies a year-on-year growth of 0.8%, compared to the 2.9% recorded from June 2019 to June 2020. And the half-yearly variation during the second half of last year has barely been +0.1% in the region, according to data from a study carried out by the Sociedad de Tasación on new public housing.

In the capitals of the Valencian Community, Alicante is the one where the average price has increased the most in the last year (+1%), while Castellón and Valencia have increased by 0.8% and 0.7%, respectively.

Of the three, Valencia continues to lead the ranking of average price per square metre with €1,900/m2, followed by Alicante (€1,457/m2) and Castellón (€1,419/m2). However, excluding the capitals, Benidorm is the municipality with the highest average price with an average of 1,946 €/m2, followed by Benicasim (1,789 €/m2).

In the country as a whole, the average price of new housing has reached 2,476 €/m2, with a year-on-year increase of 0.9%, and the half-yearly variation has also softened in the second half of 2020 (+0.2%).

The study also includes information on the Real Estate Confidence Index prepared by Sociedad de Tasación (Appraisal Society). This stands in the fourth quarter of 2020 at 43.8 points out of 100 in the Valencian Community, above the national average, set at 40.9 points. During the last quarter, it has improved by eight-tenths of a point.

For its part, the Índice de Esfuerzo Inmobiliario (Real Estate Effort Index), which measures the number of years of full salary that an average citizen would need to spend to buy an average home, in this region stands at 5.5 years of full salary, considerably below the national average of 7.5 years.

The study also analyses the Índice de Accesibilidad (Affordability Index), an indicator that measures the ability of a citizen with an average income to access housing, considering not only their salary but also their debt capacity. In the Valencian Community, it stood at 152 points in the fourth quarter of 2020. As a reference, the appropriate index is 100, with the national average at 110 points, which means that it is necessary to make a much smaller economic effort in this autonomous region.

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