La Almozara and Delicias pull prices in Zaragoza

Although housing prices are already beginning to show a certain moderation as a result of the slowdown in the economy and the rise in interest rates, which are slowing down the purchase of real estate, the large capitals continue to register strong price increases. And, among them, Zaragoza stands out, with an increase of 9.9%, the highest of all the provincial capitals according to Tinsa data, perhaps because the city has been one of the laggards in joining the last real estate party and, with this, it still maintains a very positive inertia, although there are great differences between the different districts.

Specifically, La Almozara drives home prices, with an increase of 17.4%, followed by Delicias (13.4%), the rural neighborhoods of the North (10.9%) and Las Fuentes (10.4 %), while Center (2.1%), University (4.4%) and Left Bank (4.5%) are further behind, although they all rise above the Spanish average. What is the reason for this strong divergence of up to 15 points between the districts that are most expensive and those that rise the least?

Fundamentally, due to the change in demand preferences, which in recent years and as a result of the pandemic has gone from betting on location to seeking better value for money, something that is no longer easily found in the most central areas or neither in the university district. Specifically, the increase in teleworking has meant that a large part of the demand does not mind moving to the outskirts if it manages to gain space or benefits for their home, since teleworking itself also drives the search for homes with a suitable room to become an office. In addition, the longer time spent indoors and the rise in electricity prices have favored homes with greater thermal and acoustic insulation, as well as greater light.