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December 23, 2016

The cost of the resale real estate fell by 1.1% in November

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The price of second-hand properties in Spain fell by 1.1% in November 2016, till 1,497 euros / m2, according to the latest house price index, published by online portal Idealista. If we compare the data with November 2015 (1,564 euros / m2), the annual decline is by 4.3%.

At the same time, the cost of houses and apartments in Spain increased in 6 of the c 17 autonomous communities of the country. The biggest increase was recorded in the Balearic Islands, where owners demand by 1.3% more for their properties. They are followed by the provinces of Navarre (0.8%), Cantabria (0.4%), Euskadi, Aragon and La Rioja (0.1% in all three cases). Meanwhile, in Extremadura, property prices have not changed, but they have declined in all other Spanish provinces. The largest decrease occurred in the region of Castilla-La Mancha (-1.5%), Madrid and Catalonia (-1.3% in both cases), followed by the dropns in Valencia (-1.1% %) and in Andalusia (-0.8%).

Euskadi (2,498 euros / m2) remains the most expensive autonomous province in Spain. It is followed by the Community of Madrid (2,332 euros / m2) and by the Balearic Islands (1,972 euros / m2). On the opposite side of the rating are situated Castilla-La Mancha (884 euros / m2), Extremadura (917 euros / m2) and Murcia (989 euros / m2), which are, besides, the cheapest Spanish regions for purchase of resale residential property purchases.

Twelve Spanish provinces, however, maintained a positive trend in real estate prices in November 2016. So prices increased by 1.3% in the Balearic Islands, as well as in Navarre (0.8%), Cordoba (0.8% %), Huesca (0.6%) and Ourense (0.5%). The largest fall, however, was recorded in the provinces of Lleida (-3.5%), Cuenca (-2.6%), Segovia (-2.2%), Jaen (-1.9%) and Toledo (-1.9%).

The ranking of the most expensive Spanish provinces remains unchanged, headed by the Basque provinces of Guipuzcoa and Vizcaya, with 2,823 euros / m2 and 2,556 euros / m2, respectively. They are followed by Madrid (2,332 euros / m2) and Barcelona (2,128 euros / m2).

Meanwhile, Toledo is the most economical province in Spain with a price of 800 euros per square meter. It is followed by the Ciudad Real (823 euros / m2) and Cuenca (835 euros / m2).

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