The growth rate of housing prices in the secondary market remains at the same level as they were at the time of the publication in April 2022 of the report on the sector from the real estate portal Idealista.
The company's report indicated that at the national level, the increase in prices for secondary housing in April was 1.5%. Granada turned out to be slightly above the general average for Spain in its indicators, but below the indicators of Andalusia and Malaga, both with an increase of 2.1%.
According to the updated data, over the past month, the average increase in prices for residential real estate in the secondary market in the province of Granada reached 1.8%. For comparison, in the provincial capital of the same name, this growth barely reached 1.0%, which indicates that a large share of the price increase occurred in the rest of the province.
This change from month to month also affected the overall quarterly price change. Buying «second-hand» housing in Granada cost 0.2% more in April than in January 2022. In the provincial capital, over the same period, the price became 0.6% higher.
In annual terms, the cost of buying a house in the province as a whole is currently 4.4% higher than in April 2021. Within Andalusia, this places Granada right after Malaga with a 10.2% growth in the latter. However, in the capital of the autonomous region, the growth was not so significant - at the level of 2.8%.
In real terms, in the province of Granada, the current price for residential real estate is 1,383 euros per sq.m., and in the provincial capital of the same name - 1,879 euros per sq.m. After Malaga, it is the fourth Andalusian province with the most expensive land price. Malaga set a record at 2,551 euros per sq.m. Two more provinces on the list: Seville and Cadiz - 1,430 and 1,556 euros per sq.m.
On average in Spain, the price of secondary market housing increased by 1.5% in April, reaching 1,853 euros per sq.m. This is the highest monthly increase in value since August 2020, based on the latest real estate price index from Idealista.
In annual terms, this April figure is 3.3% higher than the April 2021 figure, although it is 9.7% lower than the historical maximum of house prices in Spain.