5 July 2018 – Eje Prime
House prices are continuing to rise in Spain. To buy a home, you now need to spend €1,373 per square metre, up by 9% compared to the end of the second quarter of 2017. Nevertheless, the rise is not equal across all cities. In fact, the gap between towns is continuing to grow, with differences of more than €1,000/m2, according to Gesvalt.
“The largest price deviations arise between those provinces with most services and those with least tourist appeal and a cumulative oversupply”, says the consultancy firm. Such is the case of Jaén, Teruel, Ciudad Real, Toledo, Cuenca and Cáceres, where unitary values do not even reach €850/m2.
By contrast, Gipuzkoa, Bizkaia and the Balearic Islands continue to top of the ranking, with average prices of more than €2,000/m2. Madrid has also joined the €2,000/m2 club again, exceeding the threshold for the first time in recent years.
By autonomous region, all have recorded increases in their average prices, with the exception of Andalucía and La Rioja, where prices have decreased and País Vasco, where prices have remained stable.
The drivers of the rise in house prices have been Aragón, the Balearic Islands, Cataluña, the Community of Valencia and Madrid, with double-digit increases in all cases.
Meanwhile, the rental market is also maintaining its upward trend, with Barcelona, the Balearic Islands and Madrid leading the ranking of the most expensive cities. In all three cases, rental prices comfortably exceed €14/m2/month, whilst in Jaén, Ávila, Cáceres and Ciudad Real, they average less than €4.3/m2/month.
Original story: Eje Prime
Translation: Carmel Drake