Property prices remained stable in April
So far this year we have seen price increases in both property sales prices and also in rental costs strongly hinting that the real-estate market in Spain is recovering.
However, the price of second-hand housing remained stable throughout April registering only a slight decline of 0.8%. The average price of property in Spain now sits at 1,539 Euros p/m², according to the latest house price index released by property portal Idealista.
On the inter-annual basis the decline is 3.6% with prices now slightly below the figure for April 2015, when the average cost per square metre was 1,597 Euros.
By Autonomous Community
Only two of Spain’s seven autonomous communities recorded a price increase in April. The largest increase was seen in Madrid where the average cost increased by 1%. The only other community to register an increase was Andalusia where prices increased by a very slight 0.1%.
Valencia and Euskadi showed no movement in prices at all, while all other communities showed a small reduction. The largest drop was recorded in Murcia where prices fell 1.9%, followed by Catalonia and the Canary Islands where prices fell by 1.5% and 1.3% respectively.
The most expensive community remains as Euskadi where the average cost of a square metre sits at 2,551 Euros. The next most expensive community is Madrid at 2,369 Euros p/m², and the Balearic Islands where the average cost is 1,875 p/m².
At the cheap end of the table we see the cheapest real-estate is in Castilla La Mancha where a square metre will cost only 934 Euros. Extremadura and Murcia come next with prices of 942 Euros p/m² and 1,015 Euros p/m², respectively.
Provinces
Eight of the country’s provinces showed no change in prices during April. However, Almeria saw prices increase by 2.8%, followed by Castellón and Madrid with increases of 1.6% and 1%, respectively.
The province registering the largest fall was Lleida where prices dropped by 4.8%. Prices also fell in Burgos by 2.3%, and in Ciudad Real by 2.2%.
If you’re looking for property, the Basque provinces of Guipuzcoa and Vizcaya are the most expensive with prices of 2,848 Euros p/m² and 2,626 Euros p/m². These are followed by Madrid where prices are currently at 2,369 Euros per square metre, and Barcelona where you should expect to pay 2,119 Euros for a square metre.
Cuenca is the most economical province with a price of 851 Euros per square metre, followed by Toledo where the average cost per square metre is 854 Euros, and Lleida at 867 Euros p/m².
