Real estate prices in Spain are gradually approaching the highs of 2008, recorded before the "bubble" burst in the housing market and the world plunged into a global financial crisis.
According to the latest data in the "Yearbook on statistics of the real estate register for 2021", the average price for buying a house in Spain has reached 179,887 euros. This is only 3,300 euros less than the historical highs of 2008.
Reportedly, to purchase real estate in Cadiz with mortgage funds, the buyer will have to spend, on average, up to 18.9% of his monthly income to repay the loan.
It is difficult to find cheap real estate in the region. In cities such as Cadiz, Jerez, El Puerto, San Fernando or Algeciras, it is complicated to find housing, the price of which will be below 1,000 euros per square meter.
However, this does not mean that it is impossible to find real estate at affordable prices in the province.
To illustrate this, the following is a list of the ten lowest-priced cities in the region:
- Puerto Serrano — 515 euros/m2;
- Prado del Rey — 658 euros/m2;
- Alcala de los Gazules — 660 euros/m2;
- Bornos — 681 euro/m2;
- Villamartin — 692 euros/m2;
- Benaokas — 757 euro/m2;
- Olvera — 762 euros/m2;
- Benalup — 802 euro/m2;
- Jimena — 805 euro/m2;
- Arcos — 809 euro/m2.