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February 24, 2016

The price of second-hand properties in Spain rose in January

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The prices of resale houses and apartments in Spain recorded a slight increase of 2.1% during the month of January this year, with the average price per m2 of 1,597 euros, according to the latest price index published by the internet website Idealist. If we consider the data for the period January 2015 (1.592 euros / m2), the annual increase has been reduced to 0.3%.

Therefore, statistics show that the cost has increased in 13 of the 17 Spanish autonomous regions. The highest growth was recorded in Valencia, where the owners ask by 3.5% more for their properties in Spain than a month ago. The same increase was recorded in Murcia. They are followed by the rising cost of home and apartments in Spain, particularly on the Canary Islands (3.4%) and in Catalonia (3.2%). In Navarra, the property prices have not changed, while the largest decline occurred in Extremadura (-0.6%), La Rioja (-0.4%) and the Basque Country (-0.1%).

Euskadi still remains the most expensive autonomy in Spain with the price of 2,565 euros / m2. This is followed by Madrid (2,374 euros / m2) and Catalonia (1,905 euros / m2). On the opposite side of the classification are situated Extremadura (956 euros / m2), Castilla-La Mancha (972 euros / m2) and Murcia (1,081 euros / m2), which are the most economical autonomies to buy a property in Spain.

The number of Spanish provinces in which the value of second-hand properties remained positive in January 2016, is 36. At the same time, the highest growth was recorded in Valencia (4%), Tarragona (3.9 %) and Las Palmas de Gran Canaria (3.8%). The biggest drop was recorded in Caceres (-3.1%), Avila (-1.3%) and Soria (-0.8%).

Therefore, the list of the most expensive provinces remains unchanged, headed by the Basque provinces of Guipuzcoa and Vizcaya, with prices of 2,893 euros / m2 and 2,633 euros / m2, respectively. These are followed by Madrid (2,374 euros / m2) and Barcelona (2,189 euros / m2).

Toledo is the most economical province with a price of 862 euros per square meter, as well as Cuenca (885 euros / m2) and Lleida (886 euros / m2).

During the month of January 2016 can distinguish the growth of property prices in the capital of the province of Tarragona in Spain, where the expectations of the owners increased by 3.9%. In Lleida, the increase was 3.5%, while property prices in Spain near the sea, particularly in Alicante fell by 3.1%. By contrast, the largest decline occurred in Caceres (-5.7%), Pontevedra (-2.1%) and Almeria (-1.7%).

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