According to the latest data on the real estate price index from Idealista, the price of secondary housing in Spain increased by 1.5% in April 2022. The cost per square meter of such housing was 1,853 euros.
This April figure was 3.3% higher compared to the same period in 2021. Besides, the result is only 9.7% lower than the historical maximum of the price. The 1.5% increase in value represents the highest increase in secondary housing prices since August 2020.
At the level of the autonomous communities of Spain, a monthly price increase was recorded in 15 regions from March to April of this year. The biggest change in prices occurred in Navarre, where they increased by 2.9%. Navarre is followed by:
- Valencia (+2.5%);
- Andalusia (+2.1%);
- Castilla-La Mancha (+2.1%);
- Aragon (+1.6%);
- Murcia (+1.5%).
The Balearic Islands and La Rioja are the only regions in which prices for secondary housing decreased in April by 0.4% and 0.2%. But the Balearic Islands are still the region with the highest housing prices. A square meter in the region costs 3,353 euros.
Next are the Madrid Community (3,012 euros) and Baskonia (2,700 euros). In the case of Madrid, the indicator is the highest for the entire time of observation by Idealista.
At the opposite end of the list, with the lowest prices in Spain, are the regions of Castile-La Mancha (896 euros), Extremadura (946 euros) and Murcia (1,092 euros).
In April, price increases were recorded in 40 provinces of Spain
The increase in prices for secondary housing increased from March to April in 40 regions of Spain.
The largest increases were recorded in Toledo (+3.1%), Navarre (+2.9%), Gipuzkoa (+2.6%) and Teruel (+2.4%). And also in Cuenca (+2.3%), Guadalajara (+2.2%), Malaga (+2.1%), Tarragona (+2.1%).
Palencia tops the list of provinces where prices have decreased over the past month, by 1.6%. It is followed by the provinces of Leon, the Balearic Islands and Huelva — a decrease of 0.5%, 0.4% and 0.4%. The cheapest province is Ciudad Real with a price of 765 euros per square meter. It is followed by Cuenca (814 euros) and Jaen (834 euros).
San Sebastian is the most expensive city to live in
At the level of provincial capitals, 35 capitals saw an increase in residential real estate prices during April 2022.
The most expensive city in terms of the cost per square meter of housing was San Sebastian (5,006 euros), and its monthly price increase was 2.2%.
San Sebastian is followed by Barcelona and Madrid, where in April a square meter cost 3,999 and 3,804 euros, respectively. In Barcelona, the price increased by 0.7% over the month and by 0.2% over the year, while in the capital of the country, the price increased by 0.6% since March and by 2.3% year-on-year.
The largest monthly growth was recorded in the cities of Pamplona (+4.2%), Huesca (+3.7%), Guadalajara (+2.9%) and Santa Cruz de Tenerife (+2.6%). In the cities of Palencia and Cuenca, on the contrary, there was a drop in value by 1.3% (in both cases). They are followed by Palma de Mallorca (-1.2%), Caceres (-1%), as well as Bilbao and Soria (-0.9% in both cases).
Lleida, Murcia and Avila are the cheapest cities to live in, where the price per square meter is 1,065 euros, 1,080 euros and 1,081 euros.