COVID-19 has led to an inevitable decline in residential property sales. Nevertheless, the current economic recovery and the return of the usual life course has led to a return of sales in this sector to the trends of 2019. Against this background, Idealista conducted an analysis of the cost per square meter in different regions of Spain.
Among other things, the report examined the dynamics of price changes from 2019 (before the pandemic to the current moment).
The main purpose of the analysis was an attempt to identify the most expensive areas of Spain.
Below is a list of 10 districts of the country where the cost of real estate has increased the most. It’s interesting that 4 of it are located in Malaga (Andalusia).
The most expensive areas in Spain
The first place is occupied by Recoletos in Salamanca district (Madrid) with 8,863 euros per square meter. It is followed by Área Romántica in San Sebastian (Baskonia) — 7,786 euros. The third place is taken by Sarria district in Barcelona (Catalonia) — 7,387 euros.
The most expensive place in Andalusia was the province of Malaga. The most expensive area is called Los Monteros and it is located in the city of Marbella. The price per square meter is 5,392 euros. Compared to 2019, the cost of real estate in Los Monteros increased by 22%.
List of areas with the highest price increases
The list of places where the cost per square meter has grown the most in two years:
- Las Salinas — Roquetas de Oceana (Almeria). Cost (in euros)/Growth: 1,870/46.3%.
- Golf Guadiana — Badajoz (Extremadura). Cost (in euros)/Growth: 1 014/41,4%.
- La Concepción — Cartagena (Murcia). Cost (in euros)/Growth: 1 317/41,3%.
- Nagüeles — Marbella (Malaga). Cost (in euros)/Growth: 3,440/41.2%.
- El Caño Maracaibo — Las Rosas (Madrid). Cost (in euros)/Growth: 3 228/39,6%.
- Las Brisas — Marbella (Malaga). Cost (in euros)/Growth: 4,537/38,1%.
- Bonito Horizonte-Lindaso — Marbella (Malaga). Cost (in euros)/Growth: 2,905/34,1%.
- Guadalmansa — Estepona (Malaga). Cost (in euros)/Growth: 3,751/33.8%.
- Juan XXIII — Alicante (Alicante). Cost (in euros)/Growth: 713/30,4%.
- Genoa — Palma (Balearic Islands). Cost (in euros)/Growth: 5,584/29.5%.