The growth of the Spanish housing market in 2022 affected not only the commercial segment, but also the subsidized real estate segment. This happened, of course, not equally with exceptions, but there were enough areas where prices for such residential real estate showed a significant increase.
According to a study by the Spanish Mortgage Association (AHE), which was based on data from the Ministry of Transport, Mobility and Urban Development (Mitma), in a total of 23 provinces of Spain, the estimated cost of subsidized housing showed an increase in the period from December 2021 to September 2022. At the same time, prices fell in 18 provinces of the country. In 2 provinces, prices remained stable last year, although it was not possible to collect specific data on the Spanish regions.
The Galician provinces of Lugo and La Coruna showed, perhaps, the most pronounced increase in prices. Subsidized housing in these regions increased by 5.3% and 3.8%, respectively. Prices rose by slightly more than 3% in Ciudad Real and Jaena. In Las Palmas, the growth was 2.7%, and in the provinces of Huesca, Seville, Girona, Barcelona and Burgos — more than 1%.
In another 13 provinces of Spain, the cost per square meter of subsidized housing increased by less than 1%. We are talking about the provinces of Cuenca, Pontevedra, Gipuzkoa, Valladolid, Cantabria, Huelva, Tenerife, Valencia, Balearic Islands, Lleida, Toledo, Guadalajara and Asturias. And the two provinces whose price changes have not been recorded for the specified period are Navarre and La Rioja.
The situation is different in Albacete, Alicante, Madrid, Zaragoza, Castellon, Almeria and Salamanca. All of them fell in prices by 1%. In Murcia, Cadiz, Tarragona, Cordoba and Caceres, the drop was even greater in the first 9 months of 2022 — in the range from 1% to 2%. In six provinces, the average price level for subsidized housing fell by 3%. We are talking about Leon, Granada, Badajoz, Vizcaya, Alava and Malaga.
Data for the provinces of Teruel, Avila, Palencia, Segovia, Soria, Samara and Ourensa could not be collected.
The most expensive and cheapest subsidized housing in Spain
Below is a list of areas with the highest prices and, directly, the prices themselves. The most expensive subsidized housing is in Madrid (1,400 euros per square meter), Girona (1,216 euros), Tarragona (1,206 euros), Barcelona (1,199 euros) and Lleida (1,193 euros). The cost per square meter is above 1,100 euros, but less than in the above, was recorded by the provinces of Malaga, Navarro, Seville, the provinces of Baskonia, Zaragoza, Burgos, Alicante, Granada, Cadiz and La Rioja.