The echo of the bursting of the housing bubble continues to resonate in the market. The price of housing remains far from the levels reached a decade ago. This devaluation is especially palpable in the central area of Avilés, historically the most expensive in the council, where the price of the built square meter is 45 percent lower today than it was ten years ago. This fall has turned the Quirinal and Carbayedo districts into the “golden mile” of the Avilesino real estate park.
According to a report prepared by a well-known real estate portal, just a decade ago, in April 2010, the price of the square meter in the central area of Avilés reached its historical ceiling: 2,582 euros. In March of this year, the price was 45.8 percent lower: 1,401 euros. And that despite the fact that housing increased 4 percent in this district in the last year.
This drop in prices has caused the center to lose hegemony as the most sought-after area of the council. Its witness has been picked up by El Carbayedo and El Quirinal, where prices have remained more stable despite the crisis. These districts – as the report catalogs them – reached their maximum prices in December 2012, still in crisis, when the square meter was paid at 1,926 euros. In this time it has only depreciated 21.1 percent, up to the 1,506 euros that the real estate has set. In the last year this figure has increased 3.6 percent.
Given this circumstance, it is not surprising that the Quirinal area is one of the preferred areas for Avilino builders to do business. In recent years, up to three urban developments have been built in the northwest area of the neighborhood. And a fourth is on the way.
Jardín de Cantos – El Nodo is the third most popular area, with a price of 1,323 euros per square meter. And that despite the fact that in the last year this figure has fallen by around 10 percent. Versailles and La Magdalena have also remained more or less stable although always with prices significantly lower than the most central ones. In the first, the square meter is paid at 1,053 euros. In the second, at 892.
The peripheral neighborhoods live a similar reality. In El Pozón – Villalegre – La Luz (a single unit in the report) and Llaranes. In both cases the value of the square meter does not reach 900 euros. In addition, the manufacturing district is the one that has seen the biggest drop in price in the last year, of 11 percent.