The pricing of Spanish apartments is affected by many things like its location, size, economic development of the area, age, and market condition (the supply and demand of real estate). Other factors like the interior, recreation areas and amenities also play a part. Let's look at all of this in more detail.
Content:
- The features that affect real estate prices in Spain
- Current property prices in Spain
- We’ll help you buy real estate in Spain
The features that affect real estate prices in Spain
- Location of the property. The area, position and floor of an apartment in a building are all important. The more prestigious the area, the higher the floor, the better the lighting and view from the windows, the higher the price. Also, corner apartments in Spain facing 2 sides are most attractive to buyers.
- Property size. A larger property usually costs more. But the location, infrastructure of the area and the condition of the property also affect the price.
- The cost of building materials. The price and quality of building materials affect the property’s total value.
- Economic development of the district. Different infrastructure like shopping malls, shops, banks, public transport stops, schools, medical centers and cultural institutions affect the price of real estate. People usually pay more for access to these facilities. So the distance to a metro station and a developed transport network in the area, for example, should be kept in mind. Good access to utilities also plays a big role. Some areas don’t have sewerage or even electricity and this drops the commercial price of real estate.
- Age of the property. Knowing the construction date means you can figure out what materials were used, the condition of the property. and if any renovations are needed. The construction quality and the developing company or architect are factors that can tip the scales in one direction or another.
- The state of the market state. The supply and demand of real estate affect prices. A large supply of real estate means a drop in prices and vice versa.
- Interior and additional options. A house or apartment’s finishes and amenities also affect the price. For example, expensive materials, the number of bedrooms and bathrooms, garage, garden, gym, green areas, roof garden, laundry, swimming pool, terraces, etc. are examples of additional benefits that many buyers want at the moment.
- Environmental certification and sustainability. Eco-friendly real estate that improves the overall energy efficiency will have a high market value.
- An urgent sale. A large price reduction of a house or apartment will attract more buyers and help the property sell faster.
- Sales under construction. Developers offer buyers many discounted options for Spanish real estate under construction.
- Big cities. The price of housing in Spain depends on its location. In large cities like Madrid, Barcelona, Valencia, and Seville, housing is more expensive as these are the country’s main economic centers.
- Resort cities. In cities like San Sebastian, Palma de Mallorca, Cadiz, and Ceuta, real estate prices change depending on how close they are to the sea.
All these points should be considered together. Finding the perfect house in Spain can be a difficult process so keeping all this in mind and how it affects the pricing of apartments will help you figure out a good price-quality ratio.
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Current property prices in Spain
In January 2022, the most expensive housing is in Madrid, the Balearic Islands and the Basque Country. The lowest prices were recorded in Extremadura, Murcia and Castile-La Mancha.
The table shows Spanish real estate prices and other information for January 2022.
| Autonomous community | Price/m2, January 2022 | Monthly fluctuation | Quarterly fluctuation | Annual fluctuation | Historical maximum | Maximum fluctuation |
|---|---|---|---|---|---|---|
| Spain | 1.824 €/ m2 | - 0,3 % | + 0,5 % | + 2,1 % | 2.053 €/m2 June 2007 | - 11,1 % |
| Andalusia | 1.768 €/m2 | + 0,1 % | - 0,3 % | + 6,4 % | 1.924 €/m2 July 2006 | - 8,1 % |
| Aragon | 1.329 €/ m2 | + 0,6 % | + 2,7 % | + 0,7 % | 1.924 €/m2 November 2007 | - 30,9 % |
| Asturias | 1.348 €/ m2 | - 0,2 % | + 0,3 % | - 1,7 % | 1.847 €/m2 June 2011 | - 27,0 % |
| Balearic Islands | 3.353 €/ m2 | - 0,1 % | + 2,9 % | + 7,9 % | 3.355 €/м2 December 2021 | - 0,1 % |
| Valencia | 1.485 €/ m2 | - 0,2 % | + 0,1 % | + 4,8 % | 1.839 €/m2 January 2006 | - 19,2 % |
| Galicia | 1.336 €/ m2 | - 0,7 % | - 0,3 % | - 1,2 % | 1.762 €/m2 November 2011 | - 24,2 % |
| Canary Islands | 1.960 €/ m2 | + 0,4 % | + 1,4 % | + 5,6 % | 1.960 €/m2 June 2022 | 0,0 % |
| Cantabria | 1.481 €/ m2 | + 0,2 % | - 0,1 % | + 1,7 % | 1.988 €/m2 January 2011 | - 25,5 % |
| Castile and Leon | 1.154 €/ m2 | - 0,2 % | + 1,2 % | + 1,1 % | 1.468 €/m2 June 2011 | - 21,4 % |
| Castile-La Mancha | 874 €/ m2 | - 0,6 % | + 0,1 % | + 0,5 % | 1.362 €/m2 April 2008 | - 35,8 % |
| Catalonia | 2.317 €/ m2 | + 0,1 % | + 1,3 % | - 0,3 % | 2.573 €/m2 June 2007 | - 10,0 % |
| La Rioja | 1.282 €/ m2 | + 0,1 % | + 2,6 % | + 3,5 % | 1.600 €/m2 March 2011 | - 19,8 % |
| Madrid | 2.967 €/ m2 | + 1,0 % | + 1,7 % | + 3,5 % | 2.967 €/m2 January 2022 | 0,0 % |
| Melilla | 1.847 €/ m2 | + 0,4 % | + 1,3 % | + 3,4 % | 1.855 €/m2 July 2012 | - 0,4 % |
| Murcia | 1.071 €/ m2 | - 0,1 % | + 0,3 % | + 1,9 % | 1.684 €/m2 September 2006 | - 36,4 % |
| Navarre | 1.461 €/ m2 | - 2,0 % | + 0,4 % | + 1,1 % | 1.787 €/m2 December 2007 | - 18,2 % |
| Ceuta | 2.105 €/ m2 | + 1,7 % | + 8,4 % | - 6,7 % | 2.256 €/m2 January 2021 | - 6,7 % |
| Basque Country | 2.706 €/ m2 | 0,0 % | + 0,9 % | + 1,1 % | 3.244 €/m2 April 2011 | - 16,6 % |
| Estremadura | 940 €/ m2 | - 0,5 % | - 1,0 % | + 0,9 % | 1.203 €/m2 April 2011 | - 21,9 % |
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