Getafe is one of the towns in the metropolitan area of Madrid with the most demand for buying a home. It is also the municipality in which the price of houses has increased the most in the last five years: it has increased by 39.9%, up to 2,351 euros/m2 on average. The rate of increase has surpassed that experienced in the Spanish capital, which was 31.4%, up to 3,744 euros/m2, according to data from the Tinsa Research Service.
Prices have also accelerated strongly in Torrejón de Ardoz (36.9%), San Sebastián de Los Reyes (35.7%), Rivas Vaciamadrid (35.3%), Alcobendas (33.8%) and Leganés (33. ,4%). On the other hand, the most moderate increases were those of San Fernando de Henares (19.6%), Pozuelo de Alarcón (24.8%) and Parla (27.4%). “Metropolitan areas have gained prominence in recent years as receiving areas of demand displaced by the high prices of large cities and also by concentrating to a greater extent new construction developments with qualities and characteristics that have risen in buyers’ preferences after the pandemic,” says the report, which reveals that in the last five years the average prices of the municipalities studied have experienced increases between 20% and 40%.
If a temporal analysis of the last three years is carried out (post-pandemic scenario), new and used housing has increased between 4% and 23%, highlighting Rivas Vaciamadrid, Alcobendas and Madrid capital with revaluations greater than 20% in this period. Tinsa’s analysis indicates that the municipalities of Majadahonda, Las Rozas and Pozuelo, in the western part of the area of influence, are the closest to the maximum prices reached during the bubble era, at less than 5%. away.
In Alcobendas, Madrid and Rivas Vaciamadrid the gap is also small: between 5% and 10% of its maximum references for the period 2007-2008. This evolution contrasts with other municipalities in the metropolitan area, where the distance to the maximums exceeds 30%, as is the case of Parla (-37.7%) or San Fernando de Henares (-30.9%).
What happened in 2023?
The price of new and used housing in the province of Madrid has increased by 1.9% quarterly between July and September, and by 5.7% compared to the same period of the previous year, which represents “a slight rebound within the slowdown trend after the strong increases recorded during the second half of 2021 and the first half of 2022
The increase in housing prices in the capital, Madrid, has been somewhat more intense than the provincial average: 2.6% in a quarterly rate. The most relevant municipalities in the metropolitan area, Alcobendas (2.1%), Las Rozas (1.8%), Alcorcón (1.7%), San Sebastián de los Reyes (1.5%) and Alcalá de Henares (1 .5%) would have replicated the quarterly rebound, although with less intensity than the capital. Prices remained unchanged in San Fernando de Henares and grew by a modest 0.3% in Getafe.
In terms of accessibility, Only the capital would exceed the critical accessibility level of 45% effort ratethere are several municipalities where the reasonable level of accessibility would be exceeded (35%), such as Alcorcón (43.1%), Leganés (42.0%) and San Sebastián de los Reyes (41.8%). .
The municipalities of the metropolitan area where the relationship between disposable income and housing price would be less stressed, with a level of accessibility lower than 35%, are Pozuelo de Alarcón (25%), Alcobendas (29%) and Las Rozas (33%). %). The theoretical purchase effort is understood as the percentage of disposable income that must be allocated to pay the first year of a mortgage that covers 80% of the value of an average home at current prices.