In 2021, the autonomous community of Extremadura retained the lowest prices for the purchase of residential real estate in the whole country.
On average, it was necessary to have about 81,000 euros to purchase a home, according to the "Statistical Yearbook of the Real Estate Register for 2021". The annual report was prepared by the Spanish Association of Registrars of Real Estate, Commercial and Movable Property (Registradores).
Thus, this figure is almost 100,000 euros less than the average in Spain – about 180,000 euros.
Looking back, the Spanish real estate market closed 2021 with 564,569 real estate transactions. This result is 34.5% higher than the 2020 result.
Of all transactions, 452,005 were for housing from the secondary market – the result is 34.6% more than a year before. The primary market accounted for 112,564 transactions – 34% more than was concluded in 2020.
The average price for a house in 2021 was 179,887 euros. However, four autonomous communities showed results above the national average. The Balearic Islands became the leader among them. So, to buy residential real estate in this region, buyers will have to pay over 311,000 euros. In Madrid, prices for residential real estate were 291,000 euros per a housing unit, and in Baskonia the cost fluctuated around 247,000 euros. In Catalonia, the cost of housing was also higher than the national average – about 212,000 euros.
Extremadura, Castile-La Mancha, and Murcia were the cheapest regions to buy a property.
Registradores report that in Extremadura, the average property price was 81,102 euros, Castile–La Mancha was 97,465 euros, and Murcia fluctuated around 102,000 euros.
2021 continued this trends that had developed during the COVID-19 pandemic. The key trend was the desire of buyers to purchase larger housing. Thus, sales of residential real estate of over 80 m2 were 52.5%, and in 2020 – 52.2%.
Apartments of 60 to 80 m2 took a share of 28.1% of all transactions in this segment. Apartments of 40 to 60 m2 were 16.2% of the total number of transactions. Only 3.3% of the apartments sold had an area of less than 40 m2.