How much money do you need to buy a home? The average amount spent on the purchase of existing housing in Madrid and Barcelona this year decreased by 15% and 22%, respectively. Meanwhile, the average transaction price in the municipalities of Madrid and in the province of Barcelona increased by 12.8% and 4%, respectively. The figures are based on the average price of real estate transactions in the municipalities of the province of Madrid and Barcelona over the past three years.
“The increase in the amount spent on a home purchase in the municipalities indicates that the Spanish people prefer to buy properties on the outskirts of large cities. In both Madrid and Barcelona, the homes with the most growth in demand were rural properties and semi-detached houses,” explains María Matos, Director of Studies and Fotocasa spokesperson.
With a median home price in Madrid of 356,432 euros, the average cost to buy a home in the remaining municipalities of the province stood at 235,886 euros in July 2021. The average price of housing in the city of Barcelona is 391,726 euros. Meanwhile, in the rest of the provincial municipalities, it came in 225,294 euros in July 2021.
The average real estate price in Madrid decreased by:
- 46.7% for rural properties
- 26.4% for townhouses
- 22.5% for ground floor properties
- 7.8% for terraced houses
- 3.8% for studios
- 2.7% for apartments
- 1.9% for a loft
By contrast, the average price grew by:
- 30.1% for duplexes
- 8.7% for apartments
- 4.7% for penthouses
Meanwhile, in the municipalities of the province of Madrid, the average price of homes sold in July 2021 rose by 41.2% for one-bedroom apartments and advanced by 35.7% for rural real estate.
They are followed by a 14.8% increase in the listing price of townhouses, a 14.6% rise for semi-detached houses, a 13.8% jump for lofts, a 6.1% increase for duplexes, and a 2.1% uptick for penthouses.