Second-hand house prices in Spain increased in May with a 0.8% increase over April. This brings the average price per square metre to 1,645 euros, according to the latest price index from idealista. When comparing to the previous year, when the average price was 1,526, the year-on-year increase is 7.8%.
Prices fell in only three communities. The biggest drop was seen in Asturias, where prices dropped by 0.4%. Falls were also registered in Extremadura (-0.3%), and Murcia (-0.1%).
The biggest gains were seen in Madrid (+2.1%), the Canary Islands (+1.6%) and La Rioja (+1.1%).
Madrid is the most expensive community with its average price of 2,804 euros per square metre. The Balearic Islands were next with an average price per square metre of 2,617, followed by Euskadi (2,513 euros p/m²).
In Andalucia the average cost per square metre is currently 1,475 euros.
34 provinces registered higher prices in May than in the previous month. The greatest increase was seen in Las Palmas where prices grew 2.5%. Following were Lugo (+2.2%), Segovia (+2.2%) and Madrid (+2.1%).
The biggest falls were registered in Zamora where owners are now asking 1.9% less than in April. They are followed by falls in Jaén (-1.1%) and Guadalajara (-1%).
Madrid is also the most expensive province. In second place is Barcelona with 2,733 euros p/m², followed by Guipúzcoa (2,729 euros p/m²). Toledo is the cheapest province for second-hand housing with an average price per square metre of just 793 euros. They are followed by Ávila (808 euros p/m²) and Ciudad Real (846 euros p/m²).
The province of Malaga saw prices rise 1.5% when compared to the previous month, reaching 2,014 euros p/m².
35 capitals saw second-hand house prices rise in May. The steepest rise was seen in Valencia, where prices grew by 3%. In Malaga, the increase was 2.7% (2,124 euros p/m²), while Segovia saw prices grow by 2.6%. In Madrid, prices increased by 1.8%, while Barcelona saw a 0.7% rise in used-housing prices. Santander registered the biggest fall (-1.3%), followed by Girona (-0.8%) and Ávila (-0.8%).
Barcelona remains as the most expensive city in Spain with an average cost per square metre of 4,408 euros. Following are San Sebastián (4,195 euros p/m²) and Madrid (3,694 euros p/m²). Avila, on the other hand, is the most economical, with an average of 935 euros p/m², followed by Lleida (954 euros p/m²) and Castellón (1,023 euros p/m²).