Prices on the secondary residential real estate market in Spain fall for the three month

In February, the price of secondary market housing decreased by 0.6% to 1,814 euros per square meter. Thus, prices in Spain have been declining for the third month in a row, according to the real estate price index of Idealista, the leading real estate sales company in Southern Europe.

The February 2022 figure is 2.4% higher than in February last year, but 11.6% lower than the historical maximum.

Autonomous Communities (AC)

AC is the largest form of territorial division in Spain. There are 17 autonomous communities in total.

During February, the price decreased in 15 regions of Spain and Aragon (-1.9%) tops the list. It is followed by Navarre (-1.3%), Extremadura (1%), Castile and Leon, and Castile-La Mancha (-0.9% in both). Andalusia (-0.8%), Catalonia (-0.7%) and Baskonia (-0.5%) continue the list.

There was a decrease below 0.5% in Galicia and Cantabria (-0.4% in both regions), Murcia and La Rioja (-0.2% in both cases), Asturias, Balearic and Canary Islands (-0.1% in all three regions).

Only in Madrid and Valencia real estate prices increased in February — by 0.6% and 0.2%.

The most expensive real estate is located in the Balearic Islands: 3,351 euros per square meter. Next, it is Madrid (2,983 euros per square meter and it is a historical price record).

On the opposite side of the table, among the cheapest destinations are Castilla-La Mancha (866 euros per square meter), Extremadura (931 euros per square meter) and Murcia (1,068 euros per square meter).

Provinces

Provinces are the second stage of territorial division. In total, there are 50 provinces in Spain.

During the month, prices decreased in 39 provinces. The largest drop occurred in the province of Zaragoza (-2.1%), followed by Albacete and Badajoz (-1.6% in both cases), Avila (-1.5%), Navarre (-1.3%), Salamanca (-1.2%) and Almeria (-1.1%).

Madrid showed growth (0.6%). It tops the list, followed by Guadalajara, Alicante and Malaga (0.5% in all three regions).

Balearic Islands reaffirmed its position as the most expensive province for the purchase of real estate (3,351 euros per square meter), Gipuzkoa (3,186 euros per square meter), Madrid (2,983 euros per square meter) and the province of Barcelona (2,686 euros per square meter).

The cheapest accommodation you can buy in the province of Ciudad Real (759 euros per square meter) and Cuenca (791 euros per square meter) and Toledo (813 euros per square meter).

Regional capitals

In February, there was a decrease in housing prices in 25 capital cities of Spain.

The most pronounced decline occurred in Avila, where sellers reduced the asking prices by 2.6%. Avila is followed by Almeria (-2.4%), Teruel (-1.8%), Zaragoza (-1.6%) and Murcia (-1%).

At the opposite end of the list is Soria, where prices rose the most in February — by 2.2%, followed by Melilla and Valencia (2.1% in both cases), Palma (1.8%), Toledo (1.2%), Malaga and Alicante (1% in both capitals).