The price of used housing in Spain has registered a 0.3% increase during the month of July, standing at 1,996 euros/m2, according to the latest real estate price index of idealista. This figure is 7.2% higher than the same month last year, while it is 5.6% below the historical maximum price of housing in Spain, recorded in June 2007.
Canary Islands, Aragón and Asturias lead monthly increases
10 Spanish Autonomous Communities showed higher prices than last month. The Canary Islands (0.8%) led the increases, followed by Aragon (0.6%), Asturias (0.6%), the Balearic Islands (0.5%) and La Rioja (0.5%). The smallest increases were in the Basque Country (0.3%), Andalusia (0.2%), Valencia (0.2%), Castilla-La Mancha (0.1%) and Castilla y León (0.1%). Extremadura and Navarra (-0.5% in both cases), on the other hand, led price declines, followed by Catalonia (-0.4%), Cantabria (-0.3%) and the Region of Murcia (-0.2%). In the Community of Madrid and Galicia, the price of used housing remained unchanged during the month of July.
The Balearic Islands with 3,973 euros/m2 is the most expensive autonomous region, followed by the Community of Madrid (3,143 euros/m2). They are followed by the Basque Country (2,821 euros/m2) and Catalonia (2,353 euros/m2). On the opposite side of the table we find Castilla-La Mancha (902 euros/m2), Extremadura (949 euros/m2) and Castilla y León (1,157 euros/m2), which are the cheapest communities.
Balearic Islands reaffirms its position as the most expensive province to purchase a home
Up to 25 provinces have higher prices than those recorded in the previous month. The largest increases were seen in Santa Cruz de Tenerife (1.4%), followed by Avila (1.3%), Seville (1.3%), Zaragoza (0.9%) and Almeria (0.9%). On the other hand, Lleida (-1.8%) is the province where sellers’ expectations are most reduced, followed by Teruel (-1.2%), Tarragona, Zamora and Jaén (-1.1% in all three cases).
The Balearic Islands reaffirms its position as the most expensive province to buy a home (3,973 euros/m2) ahead of Guipúzcoa (3,422 euros/m2). They are followed by Madrid (3,143 euros/m2), Malaga (2,964 euros/m2), Vizcaya (2,732 euros/m2) and Barcelona (2,687 euros/m2).
Ciudad Real is the cheapest province with a price of 752 euros per square meter. It is followed by Cuenca (788 euros/m2) and Jaén (816 euros/m2).
34 capitals have experienced increases in housing prices.
During the month of July, 34 capitals have experienced increases in housing prices. The most pronounced increase was in Huesca, where sellers’ expectations rose by 4.8%, followed by Almería (3.3%), Ávila (2.8%), Santa Cruz de Tenerife (2.3) and Málaga (2.2). Jaén (-1.6%), on the other hand, leads price declines during the last month, followed by Teruel (-1.3%), Pamplona (-1.1%), Lleida and Castellón de la Plana (-1% in both cases).
During the month of July, prices rose 0.1% in the city of Barcelona while they fell 0.3% in Madrid. The price in the capital city stands at 4,002 euros/m2 and in Barcelona at 4,135 euros/m2.
San Sebastian is the most expensive capital city in Spain, with a price of 5,226 euros/m2. Jaén, on the other hand, is the cheapest capital city at 1,099 euros/m2, followed by Zamora (1,112 euros/m2) and Lleida (1,157 euros/m2).
The idealista real estate price index
The idealista real estate price index analyzes the offer prices (on square meters built) published by idealista advertisers. Atypical ads and ads with out-of-market prices are eliminated from the statistics. We include the typology of single-family houses (villas) and discard the properties of any typology that have been in our database for a long time without obtaining interaction from the users. The final data is generated using the median of all valid ads in each market.
