Second-hand house prices in Spain stood at an average of €1,765 p/m² in April, an increase of 0.7% when compared to March. This confirms that the price of second-hand housing is stable and is fluctuating only slightly month to month.
With respect to the annual variation, the price in April represented an increase of 5.4% when compared to the previous April. It also marks 19 consecutive year-on-year increases. Since the beginning of 2018, the interannual variation has been above 5% every month, according to the latest figures from fotocasa.
“The price increases are a reflection of the good times the sector is experiencing. The consolidation of mortgage financing has coincided with a more positive economic situation, and house hunters are showing renewed interest. But we must not forget that this recovery of the housing market will be slow and moderate and will not continue at the same pace in all communities,” said Beatriz Toribio, director of studies of fotocasa.
Since the historical peak prices were seen in April 2007 (€2,952 p/m²), the average price of second-hand housing in Spain has accumulated a fall of -40.2%.
Prices by Autonomous Community
Second-hand house prices increased in 11 communities in April. The most significant increase was seen in the Balearic Islands where prices rose by 1.7%. Madrid, La Rioja and Catalonia all saw prices increase by 1.6%, while in the Canary Islands owners are asking 1.3% more than in March.
At the other end of the table, Asturias is the community to sees prices fall furthest, dropping -0.8% in April, followed by Aragón (-0.4%) and Andalucía (-0.3%).
As for price ranking, the Basque Country remains the most expensive community in Spain, with an average price of €2,739 p/m², followed by Madrid (€2,542 p/m²) and Catalonia (€2,420 p/m²). In contrast, Castilla-La Mancha (€1,081 p/m²), Extremadura (€1,102 p/m²) and Murcia (€1,152 p/m²) are the communities with the most affordable second-hand housing prices.
24 Provinces See Monthly Price Increase
Looking at second-hand housing prices by province, we see price increases in 24 of them in April. The increases ranged from 2.1% in Las Palmas to 0.1% in Vizcaya. 22 provinces saw the price of second-hand housing fall in April. The decreases ranged from -0.1% in Segovia and Cáceres to -1.9% in Ávila.
Of the total 775 municipalities of Spain, 370 saw the price of second-hand housing increase in the month of April. 20 municipalities saw prices remain stable and in 385 there were price falls.