Pre-owned housing in Spain rose in May by 7.1% compared to the same month last year, to 1,976 euros per square metre, which represents an increase of 0.7% compared to the previous month. In the case of the Canary Islands, it rose by 0.8 percent compared to April, according to the latest idealista real estate price index.
However, despite this rise in Spain as a whole, the figure is 6.6% below the historical maximum price of housing recorded in June 2007.
In the breakdown by autonomous communities, 13 regions show an increase in prices compared to the previous month, according to the real estate portal. These are the Balearic Islands (1.8%), followed by Valencia (1.6%), Aragon (1.4%), Navarre (1.4%), Murcia (1.2%) and Cantabria (1.1%).
Below 1% in the month-on-month variation are the rises in Andalusia (0.8%), the Canary Islands (0.8%), Galicia (0.7%), Catalonia (0.5%), Castile-La Mancha (0.4%), Asturias (0.3%) and the Basque Country (0.3%).
Extremadura (-0.5%), on the other hand, headed the price decreases, followed by the Community of Madrid (-0.3%), La Rioja (-0.2%) and Castilla y León (-0.1%).
The most expensive autonomous community was the Balearic Islands, with 3,877 euros per square metre. It is followed by the Community of Madrid, with 3,124 euros; the Basque Country, with 2,189 euros; and Catalonia, with 2,354 euros. On the opposite side are Castilla-La Mancha (899 euros), Extremadura (951 euros) and the Region of Murcia (1,153 euros), being the most affordable regions.
RISE IN HOUSING PRICES BY PROVINCES
By provinces, 37 recorded higher prices than in the previous month. The highest rises were seen in Teruel (2.2%), followed by the Balearic Islands (1.8%), Alicante (1.7%), A Coruña (1.6%) and Zaragoza (1.6%). On the other hand, Cáceres (-1.7%) is the province where sellers’ expectations are most reduced, followed by Segovia (-1%), Zamora (-0.9%), Guipúzcoa (-0.7%) and Salamanca (-0.6%).
The Balearic Islands is the most expensive province to buy a property (3,877 euros per square metre), followed by Guipúzcoa (3,379 euros), Madrid (3,124 euros), Málaga (2,918 euros), Vizcaya (2,745 euros) and Barcelona (2,692 euros).
Ciudad Real is at the other extreme as the cheapest province; the square metre costs 749 euros. Slightly above this is Cuenca (781 euros) and Jaén (825 euros).
BY CAPITALS
Idealista highlights that in the month of May, 40 provincial capitals have registered increases in the price of housing. The most pronounced rise was in Palma, where sellers’ expectations rose by 3%, followed by Pamplona (2.5%), Teruel (2.3%), Valencia (2.1%) and Ávila. On the other hand, Zamora is the city where prices fell the most compared to last month, with 1.4%, followed by Huelva (-1.2%), Lugo (-0.5%) and Las Palmas de Gran Canaria (-0.5%).
In May, San Sebastian was the most expensive provincial capital in Spain, with the price per square metre of housing at 5,710 euros. It is followed by Barcelona, with 4,103 euros, and Madrid, with 3,979 euros. In terms of monthly variation, the city of Barcelona had an increase of 0.5% and the capital, 0.1%.
Finally, the cheapest capitals were Jaén, with 1,104 euros per square metre, followed by Zamora, with 1,114 euros, and Lleida, with 1,137 euros.
