Prices fell 0.5% in Málaga in October
Resale property prices in Spain fell by 1.3% in October to stand at an average of 1,513 euros p/m². When compared to October 2015 the variation is higher at -4.2%, according to the latest price index from idealista.
Autonomous Communities
The average price of used housing increased in only 2 of the 17 autonomous communities. These were the Balearic Islands, where the price increased only slightly by 0.7%. Extremadura also saw an increase yet even smaller with a rise of only 0.1%.
In all other communities, the price has fallen. The largest decline was seen in La Rioja where property prices fell by 3.6%. The price in Aragon fell by 1.9%. In Navarra by 1.8%, while both Catalonia and Murcia saw a decline of 1.7%.
Euskadi remains as the most expensive community with an average price per square metre of 2,495 euros. The Community of Madrid is next with a price of 2,362 euros p/m², followed by the Balearic Islands with a price of 1,947 euros.
At the other end of the scale we find Castilla La Mancha with a price per square metre of 897 euros. Also at the cheap end are Extremadura (917 euros p/m²) and Murcia (992 euros p/m²).
In Andalucía, the price fell by 0.5% to stand at 1,388 euros p/m².
Provinces
Prices increased in eight provinces in October. The largest increases were 0.9% in Segovia, 0.8% in Cuenca and 0.7% in the Balearics.
The most expensive province is unchanged with the Basque provinces of Guipuzcoa and Vizcaya at the top with an average price of 2,815 and 2,560 euros p/m², respectively. Following is Madrid with a price of 2,362 euros p/m² and Barcelona at 2,153 euros p/m².
The cheapest province for used property is Toledo with an average price per square metre of 815 euros.
In the province of Málaga, used property prices fell 0.2% when compared to September. The current price per square metre in Málaga is 1,715 euros, compared to 1,719 euros last month.
Capitals
During October, the average price of used housing increased in 18 provincial capitals. The steepest climb was seen in Lleida where vendors are now asking 1.9% more than in September. The price increase in Segovia was 1.6%, while prices in Barcelona increased by 1.4%. In contrast, Huesca saw prices fall by 3.4%. Castellon, Teruel, Almeria and Cordoba saw monthly variations of -3.4%, -2.9%, -1.8% and -1.7%, respectively.
San Sebastian is still the most expensive town in Spain for used housing with an average price per square metre of 3,889 euros. Barcelona is next with a price of 3,717 euros p/m². In Madrid the price is 2,913 euros p/m². The lowest prices are found in Lleida at 895 euros p/m². In Castellon the price is 954 euros p/m², and in Avila you would pay 1,005 euros p/m².
In Málaga the price fall was 0.5%, coming down from 1,662 euros p/m², to 1,654 euros p/m². The highest recorded was in Q2, 2007 when a square metre of used housing would have cost 2,512 euros.
