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May 2, 2014

Price of property in Spain fell by 7%

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Price of property in Spain fell by 7%

Prices in the secondary housing market in Spain fell by 7 % during the month of April 2014, according to the interannual indicators, when comparing the performance of current situation and the last year.

The price per square meter was established in 1,698 euros per m2, according to the latest index of housing prices published from the leading online real estate portal in Spain Idealista. If we consider the data for April 2013, when the price of 1 square meter was equal to 1.826 euros, the price drop was 7%. Such statistics published by online portal based on the advertisings placed on the Internet for the sale of real estate in Spain.

It is important to note that housing prices rose in 4 regions of the country. Balearic Islands chalked up the largest increase of 0.6 % in April 2014 , followed by Catalonia ( 0.4 %) , Murcia ( 0.3 %) and Madrid ( 0.1%). In all other regions of Spain property prices have fallen, experienced the greatest decrease in the Canary Islands (-3.4 %) , Cantabria (-2.6 %) and La Rioja ( -1.8 %).

At the same time the internet portal Idealista gives the following data about the Spanish property market. The Basque Country is still the most expensive autonomous community in Spain, where the cost per square meter is currently 2,815 euros per m2. Followed by the Community of Madrid (2,635 euros per m2) and Catalonia (1,898 euros per m2 ) . On the opposite side we find autonomy Castilla La Mancha ( 1,025 euros per m2 ) , Extremadura ( 1,061 euros per m2 ) and Murcia ( 1,068 m2) , which are the most economical communities on the purchase of real estate in Spain.

If we consider the data presented in more detail, it is possible to compile statistics, and the provinces of Spain. In this case, we can say that the eight Spanish provinces maintained the positive trend in the value of real estate in April 2014 . The highest growth was recorded in the following provinces: Castellón (0.9%) , Malaga ( 0.7 %) and Zamora (0.6 %). The largest decrease was recorded in the Canary Islands (-3.7 %) , followed by Santa Cruz de Tenerife (-3%) and Cantabria (-2.7 %).

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