The economic crisis associated with the utility has brought down the value of housing in the province of Córdoba and in the capital. According to the official report of the appraiser Tinsa on the behavior of prices in Spain during 2020, in the province of Córdoba the collapse of prices has two figures: 10.2%. In the capital the decline is somewhat less, but also significant: prices have fallen by more than 8%.
According to the Tinsa report, the average value of a home in the province of Córdoba is 902 euros per square meter. That is, a house of about 90 square meters would have a cost of 81,180 euros. In this year, the value of this average home would have depreciated by about 9,000 euros in total.
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In Córdoba capital the prices are higher. Thus, the value of the square meter in the city is 1,219 euros per square meter. The average cost of a house of 90 square meters would be, therefore, 109,710 euros, according to the Tinsa report. The price has fallen 8% this year. That is, the value of this home has also depreciated by about 9,000 euros in total as well.
The drop in prices in Córdoba and the province is one of the highest in Andalusia. At the provincial level, Almería surpasses Córdoba, as it has registered price drops of more than 11%. In terms of capital, the most important data is that of Malaga, where the drop in house prices is over 9%. The Andalusian average also indicates that the average price has fallen by 10%.
Prices in the province of Córdoba are also 44% lower since peak prices were recorded in 2007, before the outbreak of the real estate crisis. In other words, if a person from Cordoba bought a home at that time, they have lost 44% of their investment.
The Tinsa report also details the effort that a Cordovan has to put into paying his mortgage. In the province of Córdoba, the average mortgage amount exceeds 112,000 euros. That makes the average monthly letter of 505 euros. In other words, a person from Cordoba allocates 22% of their income to pay the mortgage.
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