According to the company Idealista, at the close of the third quarter of this year, the price of secondary real estate in Spain increased by 4%, which amounted to 1,813 euros per square meter. Compared to the previous quarter, secondary home prices in the third quarter decreased by 0.2%.
Why are prices now higher than a year ago? According to Idealista spokesman Fernando Iñareta, this is mainly due to the growth in demand, which has reached record levels in recent months, and the savings of the population, which are at a historically high level. Record low rates on mortgage lending also contribute to the increase in demand. However, he pointed out that while affordable housing stock is shrinking, prices appear to have “slowed their rise” this summer, even registering a drop in some significant markets.
Significant cities continue to top the ranking with the most expensive land. However... What about municipalities where buying a house can now be a good investment opportunity? As Idealista posted a few weeks ago, the cheapest city to buy property is in Toledo. It is, in particular, El Carpio de Tajo, where the cost per square meter is 304 euros.
Top 10
Outside the city of Toledo, Barruelo de Santillan (Palencia) follow in terms of cost per square meter, with 383 euros, Sebolla (Toledo) with 401 euros, Almaden (407 euros), Herencia in Ciudad Real (413 euros). The list is closed by provincial cities with the following cost per square meter of real estate:
- Mota del Cuervo (Cuenca), prices start at 416 euros.
- Malagon (Ciudad Real) with a cost of 426 euros.
- Jorkajo de Santiago (Cuenca), housing is sold for 432 euros.
- Torralba de Calatrava (Ciudad Real), 438 euros.
Closing the list is Puerto Serrano (Cadiz, where the price per square meter equals 439 euros. It is a reason to think about investing in foreign housing stock in Spain.