Homes prices on the up in Spain

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GROWING: Positive trend for home sellers. Credit: Shutterstock

THE price of used housing in Spain has increased by 1.6 per cent in July, reaching an average of 1,690 euros/m2, according to the latest price index from Idealista.

By region the price has only fallen in Galicia, (-0.3 per cent). In all other markets, prices have risen. The largest increases were in Castilla-La Mancha (2.7 per cent), Canarias (2.5 per cent) and Comunidad Valenciana (2.2 per cent). La Rioja saw a rise of 1.8 per cent, while Madrid (1.7 per cent), Andalusia (1.2 per cent) and Catalonia (1.1 per cent) all saw increases too.

Madrid (2,917 euros/m2) is the most expensive autonomous region. It is followed by the Balearic Islands (2,667 euros/m2) and the Basque Country (2,535 euros/m2). The cheapest are Extremadura (926 euros/m2), Castilla-La Mancha (930 euros/m2) and Murcia (1,036 euros/m2).

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In terms of provinces, a total of 40 have higher prices than a month ago. The largest increases were seen in Toledo (4.1 per cent), followed by Las Palmas (3.3 per cent), Castellon (2.5 per cent) and Valencia (2.4 per cent). The biggest drop, however, has occurred in Ourense where owners are asking 2.3 per cent less for their homes. They were followed by falls in A Coruña (-1 per cent) and Lleida (-0.9 per cent).

The ranking of the most expensive provinces is led by Madrid with 2,917 euros/m2. In second place is Barcelona (2,820 euros/m2) and then Guipuzcoa (2,780 euros/m2). Avila, on the other hand, is the cheapest province with a price of 799 euros per m2. It is followed by Toledo (821 euros/m2) and Ciudad Real (862 euros/m2).

During July the number of provincial capitals that saw increased prices was 35. The most pronounced increase is that experienced by Huesca, where prices grew 6.1 per cent.

In Girona the increase was 5.3 per cent, while in Avila it was 4.2 per cent. Madrid saw prices rise by 1.1 per cent and in Barcelona they fell by 0.3 per cent.

Ourense saw the biggest fall (-1.8 per cent), followed by A Coruña (-1.3 per cent) and Salamanca (-1.2 per cent)

Despite the fall, Barcelona is still the most expensive city in Spain, at an average of 4,386 euros/m2, followed by San Sebastian (4,277 euros/m2) and Madrid (3,799 euros/m2). Avila is the cheapest at 946 euros/m2, followed by Lleida (979 euros/m2) and Castellon (1,052 euros/m2).

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