In December of this year, the Balearic Islands reached a historic maximum of prices for secondary housing is EUR 3,355 per square meter, according to the latest price index of the Idealista, which was published on Wednesday.
In Spain, the prices for secondary real estate increased by 2.8% during 202, and the price per square meter was fixed for a year at around EUR 1,829. Lots of autonomous communities experienced growth during 2021, with the exception of Asturias, where the price for housing fell by 1.1%, Aragon with an adjustment of 0.8% and Galicia with a drop of 0.4%. In 2021, real estate has also risen in price in Andalusia and is 7% more expensive than a year ago: a square meter costs EUR 1,766.
In the Valencian community, the prices for secondary housing increased by 5.3%, and in the Canary Islands it became more expensive by 5.2%.
In Madrid, the prices have increased by 3%: a square meter costs EUR 2,983. In Catalonia, the increase in prices for secondary housing was 0.2%, and the price per square meter was EUR 2,313.
The reasons can be found in the historically low price of mortgages and interest rates, the savings created by families in these months, as well as in the success of vaccination processes. Contrary to the forecasts of many experts, the prices have not fallen everywhere, but have maintained a stable growth of less than 3%», said Francisco Inarreta, representative of Idealista.
Idealista study also includes the most expensive cities in Spain. The most expensive for buying secondary housing is San Sebastian, where the price per square meter is EUR 4,970.