Here you will find news, views, events and information relating to real-estate in Spain.

Andalusia Homes Sales Up in December

7,126 homes sold in Andalusia in December
Housing in Andalusia outsold other communities in December

7,126 homes sold in Andalusia in December

There was 53,947 housing sales/purchases in December, an annual decrease of 1.2%, according to data from the Council of Notaries.

By type of property, there was a 3.8% reduction in the sale of apartments, with both new properties (-15.1%) and second-hand properties (-0.7%) seeing a contraction in sales. Meanwhile, the sale of single-family homes reached 11,944 transactions, an annual increase of 9.1%.

In terms of the average price, a square metre of home purchased in December reached €1,469, reflecting a slight increase of 0.8%, year-on-year. This increase was due both to the rise in the price of single-family homes (0.8%) and to that of apartments (1.6%). Furthermore, the price of second-hand apartments stood at €1,588 (+0.6% year-on-year) while the price of new apartments reached €2,322 (+7.2% year-on-year).

Finally, in December the purchase and sale of other types of properties stood at 14,095 operations (-5.6% year-on-year), of which 37.4% corresponded to land or plots. The average price per square meter of these transactions was €279 (2.2% year-on-year).

Results by Autonomous Communities

Based on the sales of registered homes, the communities with the highest number of transmissions per 100,000 inhabitants are Valencia (133), Andalusia and Aragón (both with 107). Incidentally, Andalusia saw a 3.8% increase in homes sales in December, with a total of 7,126, which in real terms, was the highest of all the autonomous communities.

The Balearic Islands (14.5%), Cantabria (12.8%) and La Rioja (7.9%) saw the highest annual variation for the sale of all property types. For the sales only of registered homes, the highest rates were seen in Castilla La Mancha (18.3%), Navarra (18%), and Arragon (13%), according to figures from the INE.


The number of new mortgage loans made in December was 37,173, which represents an increase of 10.4% year-on-year. The average amount of such loans was €188,480, thus reflecting a fall of 5.6% year-on-year.

Looking only at new mortgage loans for the acquisition of a property we see an 11.3% increase in December, year-on-year (29,034 loans), due both to the increase in the granting of loans for the acquisition of a home, which reached up to 26,953 loans (+11.2% year-on-year) as well as the increase in mortgage loans for the acquisition of other properties (12.6% year-on-year).

In the case of housing, the average capital borrowed was €139,921, assuming a decrease of 3.3% year-on-year, and for other types of the real estate the average loan reached €223,092 (-12.2% year-on-year).

Loans taken for the purpose of construction showed a 33.2% year-on-year increase in December, up to 837 operations. The average amount of them was €518,831, reflecting interannual growth of 5.6%. On the other hand, the average amount of loans for the construction of a house was reduced by 4.1% to €315,109 (669 operations).

Finally, the percentage of housing purchases financed by a mortgage loan stood at 50.0%. In addition, in this type of purchases with financing, the amount of the loan was 74.1% on average.


Renting Costs Increase Across Spain

Tenants need 5.1% more to rent in Spain
Tenants need 5.1% more for renting in Spain

Tenants face 5.1% increase to rent in Spain

Renting a property finished 2019 5.1% more expensive than at the start of the year. The average price per square metre per month stood at €10.18 in December. This is the highest national average price since 2006, beating the previous high of €10.12 per square metre per month, which was seen in May 2007.

Additionally, the annual increase of 5.1% is the sixth highest annual increase in the last 13 years and the fifth consecutive annual increase. The last time there was an annual fall in rental costs was in 2014, according to figures from fotocasa.

The rise in the average price of rental housing has been widespread in almost all autonomous communities in 2019, although not all saw rises of the same strength. As an example, the communities of Catalonia and Madrid that in recent years had risen strongly have begun to moderate their growth with increases of 3.1% in the case of Catalonia and 2.3% in the case of Madrid. It is expected that the rest of the communities will follow and price increases will begin to moderate,” explained Ismael Kardoudi, director of studies at Fotocasa.

Non-Stop Growth

The interannual variation rate (comparing each month to the same month of the previous year) has been increasing in Spain since February 2015, the month in which it began to register the first increase in rental prices since February 2008.

In fact, since the first increase in rental prices at the interannual level (1%) was detected in February 2015, prices have not stop growing, with the largest single growth seen in March 2018 (18.8%). However, the bulky double-digit year-on-year increases recorded in 2017 and 2018 have not been repeated in 2019 and the increases recorded have barely exceeded 5% since the second quarter of the year.

16 Autonomous Communities See Increase

At the end of 2019, the average price of rental housing has increased in 16 of the 17 autonomous communities. The largest increases were registered in Valencia with 10.2% and the Basque Country with 10%. These were very closely followed by Andalusia (9.4%), Galicia (8%), Region of Murcia (7.8%), Aragon (7.2%), Navarra (5.9%), and Cantabria (5.2 %). Communities to see increases below 5% include La Rioja (4.7%), the Canary Islands (4.4%), Asturias (4.3%), Catalonia (3.1%), Madrid (2.3%), Castilla-La Mancha (2.1%), Castilla-León (0.9%), and Extremadura (0.3%). On the other hand, it is striking that only the Balearic Islands saw the price of renting fall with a slight decrease of 0.3%. This is significant as only a year ago the Balearic Islands closed 2018 with the largest annual increase of all the communities (+14.9%).

In 2019 the Community of Madrid takes first place as the most expensive for renting with an average of 14.86 euros p/m² per month. This puts Catalonia in second place for the second consecutive year with an average price of 14.14 euros p/m² per month, followed by the Basque Country (13.06 euros p/m² per month), the Balearic Islands (12.19 euros p/m² per month) and the Canary Islands (9.74 euros p/m² per month).

Rises in 43 Provinces

With increases in rental costs in 43 provinces, we see a massive 86% of the Spanish provinces saw a price rise.

Ten provinces even saw annual double-digit increases. The provinces with the highest rises in 2019 are: Seville (14.2%), Castellón (12%), Lleida (11.8%), Girona (11.6%), A Coruña (11.5%), Bizkaia (11.4%), Valencia (11.4%), Cádiz (11.1%), Toledo (10.7%) and Alicante (10.2%). Although well below double-digits, the cost of rental property in Malaga increased 5.1% in December.
The biggest falls occurred in Palencia with -2.6%. They are closely followed by Cáceres (-1.8%), Cuenca (-1.2%), Lugo (-0.7%) and the Balearic Islands (-0.3%).

In 2019 Barcelona was, for the fifth consecutive year, the most expensive province in Spain for renting with an average price of 15.74 euros p/m² per month. Madrid occupies second place for the third consecutive year with 14.86 euros p/m² per month. In third place in the ranking of provinces, with an average price of 14.52 euros p/m² per month, we find Gipuzkoa for the third year.


2020 Opens with a Slight Drop in House Prices

Good news for buyers as prices fall slightly
Good news for buyers as housing prices fall slightly

Good news for buyers as prices fall slightly

Second hand housing in Spain saw a small price drop in January with prices shrinking by 0.3%, when compared to December. The annual variation was -1.9%, bringing the average price per square metre to 1,841 euros, according to the fotocasa real estate index. The national average is a massive 40% lower than the average in the Community of Madrid where the average square metre of used property costs 3,053 euros!

Ten autonomous communities saw prices fall in January 2020. The biggest fall was in the Balearic Islands where prices dropped by 1.5%. This was followed by falls in Galicia (-0.6%), Asturias (-0.6%), Castilla y León (-0.4%), Extremadura (-0.4%), Region of Murcia (-0.3%), Navarra (-0.2%), Valenciana (-0.1%) and La Rioja (-0.1%), and the Basque Country (-0.1%).

Meanwhile, prices of second hand property increased in the Canary Islands (+1%), followed by Madrid (0.8%), Castilla-La Mancha (0.7%), Cantabria (0.6%), Aragon (0.6%), Catalonia (0.4%), and Andalusia (+0.03%).

Madrid Most Expensive

Regarding the ranking of Autonomous Communities by the price of second-hand housing, the two most expensive in Spain are Madrid and the Basque Country, with prices of 3,053 euros/m² and 2,797 euros/m², respectively. They are followed by the Balearic Islands (2,744 euros/m²), Catalonia (2,424 euros/m²), Canary Islands (1,791 euros/m²), Cantabria (1,728 euros/m²), Andalusia (1,630 euros/m²), Navarra (1,614 euros/m²), Aragon (1,586 euros/m²), Galicia (1,565 euros/m²), Asturias (1,541 euros/m²), Castilla y León (1,433 euros/m²), La Rioja (1,412 euros/m²), Valencian Community (1,406 euros/m²), Region of Murcia (1,164 euros/m²), Castilla-La Mancha (1,108 euros/m²) and Extremadura (1,093 euros/m²).

Ismael Kardoudi, Director of Studies and Training at Fotocasa said “We started the year 2020 with a year-on-year variation in January that shows a drop of -1.9%, which is another clear symptom that the price of housing in Spain is moderating and that we have left behind the great interannual increases that we had been seeing only a year ago. However, in communities such as Madrid, the Canary Islands and the Balearic Islands, prices continue to rise more strongly than in the rest of the country, where we see more moderate behaviour or even already record year-on-year falls in the price of housing for sale,

Rises in 24 of 50 provinces

In 24 of Spain’s 50 provinces second-hand property prices increased in January. The top-ten provinces by price increase were Guadalajara (3.1%), Jaén (2.1%), Huesca (1.9%), Santa Cruz de Tenerife (1.9%), Toledo (1, 8%), Huelva (0.9%), Granada (0.9%), Madrid (0.8%), Soria (0.6%) and Cantabria (0.6%). On the other hand, the three provinces that saw the biggest price falls were Teruel (-2.3%), Cáceres (-2%) and Cuenca (-1.9%).

As for prices, Madrid is the most expensive province with an average prices of 3,053 euros/m², followed by Gipuzkoa (2,998 euros/m²) and Barcelona (2,964 euros/m²), among others. The most economical province is Toledo with 980 euros/m².

Price rises in six out of ten capitals

In 29 of the 46 provincial capitals (63%) prices increased in January compared to the previous month. The ten largest monthly increases were seen in Toledo (11.9%), Bilbao (9.3%), Murcia (9.1%), Alicante (8.7%), Tarragona (8.3%), Barcelona (8.2%), Donostia – San Sebastián (7.3%), León (6.8%), Madrid (6.3%) and Ourense (6.2 %). The three capitals with the greatest decreases were A Coruña (-7.4%), Pamplona / Iruña (-6.7%) and Palma de Mallorca (-4.8%).

Regarding prices, the most expensive province capital is Donostia – San Sebastián with 5,423 euros/m², followed by Barcelona (4,509 euros/m²), Madrid (3,916 euros/m²), Bilbao (3,239 euros/m²), Palma de Mallorca (2,991 euros/m²), Vitoria – Gasteiz (2,523 euros/m²), Cádiz (2,398 euros/m²) and Pamplona / Iruña (2,380 euros/m²).


Another Record Year for Malaga Airport

Over a million passengers came to Malaga for winter sun
Over a million passengers came to Malaga for winter sun

Malaga’s winter sun drew 1.1m travellers in Dec

2019 was another record year for Malaga Airport reaching three milestones. In its hundredth year of operation the airport handled 19,856,299 passengers, 4.4% more than in 2018 and the highest figure for any year since opening in 1919.

The second significant milestone was to reach and exceed 400 million passengers served since opening, and also the first September in which more than 2 million passengers were handled in a single month. There was also a record in the amount of baggage handled with over 5.3 million items moved. August was the busiest month for the ground crew with the most bags managed (672,167), according to data from airport operator, AENA.

Finally, the number of flights also set a new record in 2019, with the amount of flight operations reaching 144,920, 2.5% more than the previous year and the airports highest traffic for 100 years.

The vast majority of the passengers moved on commercial flights (19,798,215). Of these, 16.8 million were on international flights, representing an increase of 4% over the previous year. The number of international flight operations increased by 2.1%, when compared to 2018, to reach 111,776.

The remaining 2.9 million passengers were flying between Spanish cities, strengthening the domestic market by 7.5% when compared to 2018. The same was true of the number of domestic flights which increased by 6.8% to reach 28,795.

UK Still Top

The most popular source/destination for the international flights remained as the UK, with over 5.8 million passengers heading to or from British airports, an annual increase of 2.2%. The next were Germany (1,585,012 passengers), France (1,207,230), Holland (1,124,480) and Ireland (892,290).


As for the traffic statistics for the month of December at Malaga airport, they followed the positive trend of the rest of the year, with 1,136,687 passengers, a 2.9% increase in relation to the same month of 2018.

Of the 1,128,703 users who travelled on commercial flights, 905,348 did so on connections abroad (+ 2.5%) and 223,355, on domestic flights (+ 2.6%). As far as operations are concerned, Malaga airport managed 9,024 flights last month.


Property Prices Recovered in Third Quarter

Property prices up 3.2% year-on-year
Property prices up 3.2% year-on-year

Property prices grew 3.2% year-on-year in Q3

In the third quarter of 2019 the sale of housing decreased across the country, falling 6.3% nationally, continuing the trend of the previous quarter. Only Murcia saw property sales increase with a 3.4% rise in sales, according to a report from the Notaries. Only Aragon and Catalonia managed to keep the fall below 2% (-0.2% and -1.3% respectively). Among the remaining autonomies, there were falls above 10% in Navarra (-26.5%) Asturias (-13.1%), Extremadura (-12.3%), La Rioja (-11.9%) and the Canary Islands (-10.2%).

Prices, however, slightly recovered the losses of the previous quarter by growing 3.2% year-on-year across the country to reach €1,460 p/m². Increases were recorded in ten Autonomous Communities, with Aragón (23.8%) standing out, and the Balearic Islands and Andalusia also seeing a significant increase, both advancing 6.2%.

The Basque Country (5.7%) Madrid (2.0%) and Catalonia (1.7%) registered growth and maintained the highest absolute prices together with the Balearic Islands.

By property type, sales of apartments fell by -6.9%, continuing this larger decline already recorded in the previous quarter. Once again, Murcia is the only region to see an increase in sales of apartments (2.4%). The biggest declines were seen in Navarra (-31.2%) and Asturias (-16.6%), while the smallest falls were seen in Aragon (-0.3%).

The average price per m² of apartments was higher than the average across all housing types, reaching a 3.8% increase nationwide, gaining ground compared to the previous quarter.

The increase remained striking in Aragon (19.4%) and the Balearic Islands (12.0%). Decreases have shown in five autonomies, the largest being in La Rioja (-24.3%) and the remaining four in Extremadura, Galicia, Cantabria and Asturias all below 5%.


New mortgages for the purchase of a home suffered a 3.3% fall, year-on-year. Only Murcia (16.1%), Aragon (11.6%) and Catalonia (4.5%) broke the trend. The decreases were above 10% in Asturias (-20.3%), Navarra (-16.8%), Cantabria (-15.1%) and Castilla-La Mancha (-12.1%).

However, the average amount of new loans grew, breaking the trend of the last four quarters. The amount averaged €146,027, 3.0% more than a year earlier. The disparity was again significant by Autonomous Communities when registering increases in nine autonomies and setbacks in the remaining eight.

The highest increase, at double-digit rates, was recorded in La Rioja (15.5%). Growth between 5% and 10% was seen in Madrid (7.7%), Aragón (7.3%) and Castilla y León (5.0%). Smaller increases, between 0% and 5% were seen in Andalusia, Extremadura, Castilla La Mancha, Murcia and Catalonia. The most notable decrease in the average amount of new loans for home purchases was in the Balearic Islands (-12.9%).

Finally, the percentage of home sales financed through a mortgage loan reached 48.2% nationwide, in line with the ratio of the first two quarters of the year. Leading the ranking were again Madrid (70.0%) and the Basque Country (66.4%), regions where new loans evolved somewhat better than sales. Still exceeding the national average were Navarra (55.9%) Catalonia (50.6%) Aragón (50.0%) and La Rioja (49.8%).