Average cost of resale property is 1,531€ p/m²
The price of resale (used) property in Spain fell by 0.4% in June, when compared to May, to reach an average cost per square metre of 1,531 euros. On the annual rate the decline is 3.1%, according to data released by property portal Idealista.
Autonomous Communities
June saw price increases in seven of the country’s communities with the biggest increase being recorded in La Rioja where prices have increased by 1.4% over the previous month. The Canary Islands and the Balearic Islands also recorded increases above the national average with prices going up 0.8% and 0.7%, respectively. In Navarra prices increased by 0.6% while in Andalusia the cost of resale property went up by 0.4%, in line with the average.
The largest fall was seen in Castilla La Mancha where prices fell by 2.2%, followed by Cantabria where prices declined by 0.8%, and Aragon which recorded a 0.7% fall.
Euskadi is the most expensive community with the average cost per square metre being 2,526 euros. This is followed by the Community of Madrid where the cost is currently 2,349€ p/m². In the Balearic Islands the cost is 1,899€ p/m².
The cheapest resale property can be found in Castilla La Mancha where you would be required to pay 900€ p/m², followed by Extremadura where the cost is 931€ p/m². In Murcia the average cost of a square metre of resale property is 1,016€.
By Province
Prices increased in 19 provinces across the country in June. The province to record the largest increase is Cuenca which saw prices rise by 3.6%, while Alicante saw prices rise by 1.6%. Santa Cruz de Tenerife, La Rioja and Seville recorded price increases of 1.5%, 1.4% and 1.2%, respectively.
The largest falls were seen in Toledo (-3.4%), Guadalajara (-2.9%), Ciudad Real (-2.8%) and Castellón (-2.7%).
The ranking of the most expensive provinces is unchanged from last month with the Basque provinces of Guipuzcoa and Vizcaya recording costs per square metre of 2,844€ and 2,591€, respectively.
Following in third and fourth place are Madrid with a cost of 2,349 euros p/m² and Barcelona where the same square metre costs 2,131 euros.
The cheapest place in Spain for resale property in June was Toledo where the average price per square metre was 809€. This was followed by Ciudad Real and Cuenca with costs of 855€ p/m² and 895€ p/m/sup2;.
Capitals
Twenty provincial capitals recorded price increases in June with the greatest increase being seen in Lleida where the increase was 3.6%. Leon followed with prices increasing by 1.7%, while in Pontevedra the increase was 1.6%.
The capitals to record tha largest declines in the average price of a square metre of resale property were in Castellón (-3.4%), Huesca (-1.9%) and Girona (-1.8%).
San Sebastian is still the most expensive with its average cost of 3,872€ p/m². Barcelona is the next most expensive with an average cost of 3,533€ p/m², and Madrid with 2,866€ p/m².
The most economical capital is Lleida where the cost is only 837€ p/m², followed by Castellón (993€ p/m²) and Avila (1,030€ p/m²).
