Resale prices fell 1,67% in April
According to figures released by pisos.com, resale property prices in Spain in April 2017 stood at 1,526 euros per square metre. This represents a fall of -0.41%, when compared to the previous month. When compared to April in the previous year, the fall is -1.67%.
However, Miguel Angel Alemany, general director of pisos.com, says “the cuts that the national average shows should not be interpreted as a step back or as the prelude to a new crisis. It should not be forgotten that the upward pressure on prices is located at strategic points where demand is above supply.”
Autonomous Communities
The Canary Islands saw the largest increase in resale property prices, when compared to the previous month, with prices going up by 1.76%. The Balearic Islands also saw an increase with prices going up by 0.99%. Both Madrid and Andalusia saw prices fall slightly with drops of -0.42% and -0.46%, respectively. The largest monthly fall was seen in Murcia where prices fell by -1.11%.
When looking at the interannual variations, we once again see the islands at the top. The Balearic Islands saw the largest annual increase of 6.83%, while the Canary Islands registered an annual increase of 4.2%. In Andalucia, the annual variation was +0.22%.
By Province
In Santa Cruz de Tenerife the cost of second-hand property increased by 12.38% in April. In Málaga the average price per square metre increased by 8.57%, while in Las Palmas the increase was 6.88%. The biggest falls were in Almería (-10.78%), A Coruña (-10.50%) and Cáceres (-9.77%).
By price, the most expensive province in April was Guipúzcoa, with a price of 2,886 euros per square meter. Vizcaya (2.604 €/m²) and Baleares (2.272 €/m²) followed. On the opposite side was Cuenca, which closed the ranking with an average cost of 690 euros per square meter. Other economic provinces were Ciudad Real (775 €/m²) and Ávila (807 €/m²).
As for provincial capitals, the biggest increases compared to April 2016 occurred in Barcelona (11.65%), Palma de Mallorca (6.84%) and Logroño (4.77%). The lowest figures were Cadiz (-12.25%), Murcia (-11.89%) and Albacete (-11.77%). Ordering provincial capitals by price places Donostia-San Sebastián as the most expensive, with an average cost of 3,887 euros per square meter. It is followed by Barcelona (3,751 €/m²) and Bilbao (2,914 €/m²). The capital of Ávila was the most affordable with 949 euros per square meter. Other provincial capitals were Cuenca (1,001 €/m²) and Huelva (1,072 €/m²).
