Spanish house prices are falling

2
Shutterstock
AVERAGE PRICE: Has declined by 3.6 per cent compared to April 2015.

IN Spain the average price of a second-hand property has declined by 3.6 per cent compared to the situation in April 2015.

The news appears to conflict with multiple reports indicating, to the contrary, a significant rise in prices over the past several years.

What is clear is that the sharp rises seen in the more popular and populous regions have skewed reportage towards an understanding that there is an all round healthy increase.

In fact the average price of properties being resold has increased in only two of Spain’s autonomous regions, namely Madrid and Andalucia.

In the Valencian Region there has been no increase nor decrease as prices stubbornly remained the same, with the same results posted from the Basque Country.

In the regions where prices dropped, Murcia, Cataluña, and the Canary Islands saw the largest declines. Property continues to be most expensive, provincially speaking, in the Basque Country where a square metre fetches €2,551 on average.

At the other end of the scale Castilla-La Mancha is worth €946 per square metre on average. The culturally distinct region is closely followed by Madrid at €2,369, while a more distant third is the Balearic Islands at €1,875, while Extremadura and Murcia are €942 and €1,015 respectively.

2 COMMENTS

  1. Hi Will, thank you for your comment and query. I was also somewhat surprised to uncover these figures so made sure to get the facts straight. The fall in prices, as noted, is specifically for second-hand, or resale, homes, which, although they are rising in the Madrid autonomous region and Andalucia, are either seeing no movement or falling across the rest of the country. There is broad reporting on this and you can see reports on Kyero, Expatica, and Spanish property Insight which verify the info. Many thanks.

LEAVE A COMMENT

Please enter your comment!
Please enter your name here