Pisos.com finds spaces for 25k euros or less in Spain

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The rise in the price of housing is still heading upwards, although the stabilization of this indicator is very close. However, the effort to buy a home measured in years of salary has risen significantly. These figures are reinforced by the Bank of Spain, which indicates that in the second quarter of 2018 it was necessary, on average, 7.3 years of salary to acquire a property, compared to the 7 years required in 2017.

In this sense, the average annual salary per worker was 23,156.34 euros in 2016, 0.2% more than the previous year, according to the National Institute of Statistics (INE). With the aim of finding properties even below that amount, the real estate portal www.pisos.com has analyzed its current housing offer and has established which autonomous communities and provinces have the cheapest houses.

Of the second-hand homes published on the portal, only 0.5% has a price equal to or less than 25,000 euros. Last year, this percentage was 0.7%. Aragón (1.5%), La Rioja (1.2%), Castilla-La Mancha (1.1%), Castilla y León (1%) and Asturias (1%) are the Autonomies that have a higher volume of cheap housing. At the provincial level, Teruel (3.9%), Soria (2.8%), Ourense (2.7%), Zamora (2.7%) and Jaén (1.8%) stand out.

If the budget is increased to 50,000 euros, the available offer in pisos.com increases to 5.3%, a percentage that last year was 6.8%. Castilla-La Mancha (13.6%), Aragón (10.6%), Extremadura (9.7%), Castilla y León (9.6%) and La Rioja (8.5%) lead the regional ranking. On the other hand, Ávila (22.7%), Ciudad Real (20.2%), Teruel (18.9%), Soria (17.9%) and Toledo (16.6%) are the provinces where there are more houses for 50,000 euros or less.

The average price of a type of second-hand house in Spain is 150,480 euros.

According to Ferran Font, director of Estudios de pisos.com, "affordable housing has not disappeared with the recovery of the market, but its location and state of conservation do not always meet the needs of the new owners." The spokesman of the portal explains that "the cheapest properties of our portal are usually in towns far from the capitals in which those who seek to buy their first home are not fixed, unless their goal is to disconnect from large cities and can work from home". Likewise, Font indicates that "reforming these houses requires an extra budget to cover the works, and not always is willing to go through the discomforts of a comprehensive reform."

After reviewing the current ads published on pisos.com, the portal has located homes for sale for 15,000 euros, below even the average gross annual salary.

For example, a house of ground floor in Alaraz (Salamanca) of 145 m2 with living room, two bedrooms, kitchen with fireplace and renovated bathroom.

Another good opportunity, although in need of a reform, is a flat in Sariñena (Huesca) of 152 m2 with living room, dining room, three bedrooms, kitchen and bathroom.

Also sold for 15,000 euros a house to rehabilitate two floors and 100 m2 in Hellín (Albacete). On the ground floor are the kitchen, the living room with fireplace, a bedroom and a bathroom, while in the upper floor there are three bedrooms.

Also, in Useras (Castellón) we find another house to reform 120 m2 with four bedrooms, dining room, kitchen with pantry and a bathroom. The selection is completed with a house in Calatayud (Zaragoza) that would also require a reform. It has 154 m2 spread over three floors. The first has a bedroom, bathroom and terrace; the second, with living room and kitchen, and the third, with a large bedroom.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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