Housing prices in large cities fall over the past year

Housing prices in large cities fall over the past year

The price of secondary housing in Spain increased by 10% in June over the past 12 months. According to the latest Idealista price index, a square meter costs 1,816 euros. If we consider the quarterly changes, the growth is 1.8%.

According to Francisco Inareta, a representative of Idealista, "the magnitude of the June price increase is associated with an atypical drop that the market experienced after several months of stagnation. On the other hand, prices in major capitals remained at the same level or slightly decreased. Judging by the sales and mortgage data, which remain high, it is likely that prices will continue to follow the same trend in the coming months."

Capital cities

Over the past 12 months, prices have fallen in 18 capitals, including most of the country's major markets. The largest drop was recorded in:

  • Ceuta (- 8.5%)
  • Soria (- 5.8%)
  • Seville (- 5.6%)
  • Alicante (- 5.1%)
  • Barcelona (- 4.2%).

Among the major cities, after Seville and Barcelona, the largest drop in prices was recorded in:

  • Bilbao (- 1.8%),
  • Valencia (- 0.6%)
  • Málaga (- 0.2%).

On the contrary, prices rose slightly in Palma (0.1%) and Madrid (0.8%).

The largest price increases were recorded in:

  • Huesca (17.2%)
  • Castellón de la Plana (10.3%)
  • Lleida (9.9%)
  • Badajoz (6.2%).

San Sebastián is the most expensive Spanish capital (4,858 euros per sq. m.), followed by Barcelona (3,988 euros per sq. m.), Madrid (3,757 euros per sq. m.), Palma (3,056 euros per sq. m.) and Bilbao (3,002 euros per sq. m.). On the opposite side of the table is Lleida – the cheapest capital city, with a price of 1,055 euros per sq. m.

Autonomous communities

In all autonomous communities, prices are higher than a year ago. The greatest growth is observed in Navarra, where owners' expectations increased by 11.6%. It is followed by:

  • Catalonia (11.1%)
  • Valencia (11%)
  • Andalusia (9.2%)
  • La Rioja (8.2%)
  • Castilla-La Mancha (8%)
  • Madrid (7.6%)
  • Extremadura (7.5%)
  • Aragón (6.5%)
  • Canary Islands (6%)
  • Murcia (5.1%)
  • Castilla y León (4.4%)
  • Asturias (3.7%)
  • Galicia (3.5%).

The lowest growth was recorded in Cantabria (2.5%) and the Balearic Islands (2.7%).

The Balearic Islands are still the most expensive autonomous region with a price of 3,169 euros per sq. m. They are followed by Madrid (2,945 euros per sq. m.), the Basque Country (2,668 euros per sq. m.) and Catalonia (2,325 euros per sq. m.). On the opposite side of the table are Castilla-La Mancha (875 euros per sq. m.), Extremadura (933 euros per sq. m.) and Murcia (1,056 euros per sq. m.), the cheapest regions.

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