Prices increased 1.1% in Malaga, in January
It’s February already! How did that happen?
All pointers at the end of last year suggested we would see a good 2018 and it has certainly started well.
Used property prices in Spain registered a monthly increase of 0.7%, to stand at 1,597 euros p/m². When compared to January last year (1,508 euros p/m²), the annual increase is 5.9%. This is according to the latest figures from idealista.
By Autonomous Community
The only community to see a fall in prices in January was Extremadura where homeowners now ask for 0.1% less than they did in December. In Euskadi, prices remained stable, but increased in all other communities. The biggest increases were seen in Castilla La Mancha (1.9%), followed by Aragón (1.7%) and La Rioja (1.7%).
Madrid (2,575 euros p/m²) is the most expensive autonomy. They are followed by Euskadi (2,518 euros p/m²) and the Balearic Islands (2,497 euros p/m²). On the opposite side of the table we find the lowest prices in Castilla La Mancha (914 euros p/m²), Extremadura (931 euros p/m²) and Murcia (1,031 euros p/m²).
Provinces
43 provinces registered higher used property prices than a month ago. The greatest increases were recorded in Lleida (+3.5%) and Toledo (+2.9%), followed by Cuenca (+2.5%), Ciudad Real (2.3%) and Almería (2.1%). The biggest fall, however, has occurred in Zamora, where owners ask for 1.5% less for their homes. They are followed by the falls of Lugo, Salamanca, Cáceres and Vizcaya (-0.4% in the 4 provinces).
The ranking of the most expensive provinces remains without news, led by the Basque provinces of Guipúzcoa and Vizcaya, with 2,772 euros p/m² and 2,581 euros p/m², respectively. After them are Madrid (2,575 euros p/m²) and Barcelona (2,571 euros p/m²).
Toledo is the cheapest province with a price of 792 euros per square meter. They are followed by Ávila (814 euros p/m²) and Ciudad Real (859 euros p/m²).
Capitals
During the month of January, 41 provincial capitals saw an increase in used property prices. The most significant increase was seen in Lleida, where the expectations of owners grew by 4.7%. In Huesca, the increase was 3.7%, while in Guadalajara it was 2.5%. In Madrid, prices rose 2.2%, while in Barcelona they increased 0.1%. Badajoz, on the other hand, saw the biggest drop this month (-0.5%), followed by Segovia (-0.4%) and Zamora (-0.4%).
Barcelona is still the most expensive city in Spain, with 4,290 euros p/m², followed by San Sebastián (4,119 euros p/m²) and Madrid (3,357 euros p/m²). Avila, on the other hand, is the most economical, with an average price of 938 euros p/m², followed by Lleida (964 euros p/m²) and Huelva (1,030 euros p/m²).
Andalucía
Down here in sunny Andalucía, the current average price of used property, per square metre is 1,430 euros, a 0.7% increase over Decembers prices. In the province of Malaga the average price sits at 1,911 euros p/m², 0.7% higher than in the previous month.
The city of Malaga saw its average price rise 1.1% in January to reach 1,956 euros p/m². However, prices in Malaga are still 22.4% below the maximum reached in the second quarter of 2007 (2,521 euros p/m²).
