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

Price of Housing Down in August

Second-hand housing prices fell slightly in August
Price of housing fell slightly in August

Prices have been stable recently

According to the latest monthly sales price report from pisos.com, the average price of second-hand housing in Spain was 1,528 euros per square metre in August 2017. This figure represents an increase of 0.2% compared to the previous month. On a year-on-year basis the variation is -1.99%.

The price of housing has recently been fluctuating slightly month-to-month but within reasonable margins, “except in certain cities like Madrid and Barcelona, where the scarcity of new constructions and the greater accessibility of mortgages are significantly enhancing the market,” says Miguel Angel Alemany, general director of pisos.com. “The second-hand property market is very pressured by demand, which is leading operations that already reach pre-crisis levels.” he added.

Prices

The most expensive regions in August were the Basque Country (2,548€/m²), the Balearic Islands (2,330€/m²) and Madrid (2,000€/m²). The cheapest regions were Castilla-La Mancha (843€/m²), Extremadura (1.063€/m²) and Murcia (1.160€/m²).

Interannually, the only positive variations occurred in the Canary Islands (9.14%), the Balearic Islands (7.63%), Galicia (2.15%) and La Rioja (0.62%). The most significant negative variations seen in Castilla-La Mancha (-9.66%), Aragon (-9.13%) and Navarre (-8.26%).

By Province

The largest annual increases in the price of housing were seen in Santa Cruz de Tenerife (10.21%), the Balearic Islands (7.63%) and Malaga (5.87%). The most pronounced declines in this period were Toledo (-13.24%), Almería (-12.67%) and Albacete (-11.78%).

In the ranking of provinces by price, the first position in August 2017 was for Guipúzcoa, with 2,828€/m², followed by Vizcaya (2,588€/m²) and the Balearic Islands (2,330€/m²). On the opposite side was Cuenca, which closed the ranking with 654€/m², followed by Ciudad Real (766€/m²) and Toledo (770€/m²).

Provincial Capitals

The most significant increases were seen in Barcelona (10.47%), Palma de Mallorca (8.28%) and Logroño (4.33%). Meanwhile, the largest falls were in Cadiz (-15.07%), Albacete (-13.79%) and Zaragoza (-11.67%).

Ordering the provincial capitals by price, puts Donostia-San Sebastián as the most expensive, with 3,806€/m². Behind them were Barcelona (3,780€/m²) and Madrid (2,942€/m²). The capital of Avila was the most affordable with 944€/m². Other capitals of cheap provinces were Cuenca (990€/m²) and Cáceres (1,060€/m²).