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Property Prices Fell Slightly in November

Spanish property prices fell 1.1% in November

The price of used property fell 1.1% in November

The price of used housing in Spain registered a decline of 1.1% during November. The average price per square metre now stands at 1,497€, according to the latest figures from idealista. If we look at the data in November 2015 (1,564 euros p/m²), the year-on-year fall is 4.3%.

Autonomous Communities

The price of resale housing has increased in 6 of 17 communities. The highest increase was recorded in the Balearic Islands where prices increased by 1.3%. In Navarra, the increase was 0.8%, 0.4% in Cantabria and 0.1% in Euskadi, Aragón and La Rioja. All other communities saw prices drop in November.

The largest fall was in Castilla La Mancha where prices fell by 1.5%. Madrid and Catalonia both saw prices fall by 1.3%, while prices fell by 1.1% in Valencia and by 0.8% in Andalusia.

Euskadi remains as the most expensive community with property prices at an average of 2,498 euros p/m². In the Community of Madrid, the average price of a square metre is 2,332 euros. On the Balearic Islands the price is 1,972€. At the other end of the table, the cheapest community is Castilla La Mancha with an average price of 884€ p/m². In Extremadura, the price is 917€, while in Murcia the average price per square metre is 989€.

Provinces

Twelve provinces recorded increases in property prices in November. The province of Cordoba saw an increase of 0.8%. In Huesca prices increased 0.6%, and in Ourense the increase was 0.5%. The largest fall was in the province of Lleida where prices fell by 3.5%. In Cuenca, it fell by 2.6%, and by 2.2% in Segovia. Both Jaen and Toledo saw a reduction of 1.9%.

The most expensive province remains unchanged with the Basque provinces of Guipúzcoa and Vizcaya having an average price per square metre of 2,823€ and 2,556€, respectively. Following them are Madrid (2,332€ p/m²) and Barcelona (2,128€ p/m²).

Toledo is the cheapest province with an average price of 800€ p/m².

In the province of Malaga, the average price per square metre is 1,712€, a fall of 0.2% when compared to October.