More houses on sale for less than €100,000

MADRID: 63 per cent of houses sold are reported to be less than €100,000

THE number of houses on sale for less than €100,000 has soared since the financial crisis started.

It has gone from the 2.9 per cent of the houses available to 30.8 per cent, according to data by property website Globaliza.com.

This increase also reflects in the houses that are sold.

Approximately a 64 per cent of the houses sold by the website had a price lower than €100,000.

This tendency is increasing day after day in small towns and cities alike.

According to data from Tecnocasa, 76 per cent of the houses sold by them in Zaragoza had a price of €100,000 of lower.

Sevilla, Madrid and Barcelona follow the capital of the Aragon region with 68, 63 and 32 per cent of the houses sold by Tecnocasa being less than €100,000.

These offers were almost non-existent during the years of the real estate bubble, with only 0.09 per cent of the houses matching this pricing.

Houses sold under €100,000 are normally second-hand flats with three rooms and are 83 square metres in average.

It is reported that the majority of them, a 70 per cent, are in a good condition and are located in middle class areas of towns and cities.

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