According to the latest data from the consulting company Knight Frank, Spain ranked 45th in the international ranking of real estate price growth in the first quarter of 2022. Since the previous year, the average cost of residential properties has increased by 4.4%.
The global residential real estate price index was published in two reports by a consulting company. They analyze data from 56 countries and 150 cities. The index recorded double-digit price increases in 43% of the surveyed localities, while the decline was found in only 9 of them.
Of the 5 Spanish cities analyzed, Madrid had the highest price increase (7.2%). Therefore, it ranked 87th. According to the director of residential real estate, Knight Frank, the emerging market offers luxury residential units and is "the economic engine of Spain."
In Valencia and Malaga, which are in the top 100, the real estate market grew by 6.6% and 6.1%, respectively. Barcelona (4.3%) and Seville (3.9%) ranked 113th and 117th in the ranking prepared by Knight Frank.
Globally, housing prices rose by 11.5% in the first quarter of 2022. The leaders of the index were the Turkish cities of Istanbul, Ankara, and Izmir, where prices rose by 122%, 111.7%, and 105.9%, respectively. The Czech Republic ranks second after Turkey with an increase of 25.9%, and Slovakia closes the top 3 with a growth of 22.1%.