Idealista: Second-Hand House Prices Fell By 2.6% In January

2 February 2017 – Expansión

The price of second-hand homes in Spain decreased by 2.6% during the month of January, to reach €1,508/m2, according to the latest real estate price index from Idealista. Compared with January 2016, when the average price stood at €1,597/m2, the YoY decline amounts to 5.6%.

Prices increased in just 2 of Spain’s 17 autonomous regions. The highest increase was recorded in the Balearic Islands, where owners were asking 1.4% more for their homes in January than a month ago, followed by Cantabria (0.1%). Prices decreased in each of the remaining 15 autonomous regions, led by Andalucía (-2.8%), and followed by Castilla La Mancha (-2.5%) and La Rioja (-2.5%).

Euskadi (€2,495/m2) continued to be the most expensive autonomous region to buy a second-hand home. It was followed by the Community of Madrid (€2,331/m2) and the Balearic Islands (€2,001/m2). At the other end of the spectrum, the cheapest regions to buy a second-hand home were Castilla La Mancha (€896/m2), Extremadura (€925/m2) and Murcia (€998/m2).

By province

Only 9 Spanish provinces saw price rises during the month of January. Prices rose by 1.4% in the Balearic Islands,  and they were followed by increases in Lleida (1.3%), Barcelona (0.7%), Santa Cruz de Tenerife (0.4%), Salamanca and Vizcaya (0.3% in both cases). Prices decreased in all other provinces during the month, led by Castellón and Ciudad Real where they fell by the most (-4.5% in both cases). They were followed by reductions in Almería and Cuenca (which both fell by -4.1%).

In terms of the most expensive provinces, the ranking remained stable, with the Basque provinces of Guipúzcoa and Vizcaya leading the table, at €2,743/m2 and €2,574/m2, respectively. They were followed by Madrid (€2,331/m2) and Barcelona (€2,236 /m2).

At the other end of the table, Toledo was the cheapest province, with an average price of €798/m2. It was followed by Cuenca (€823/m2) and Ciudad Real (€838 /m2).

In terms of provincial capitals, Barcelona became the most expensive city in Spain during January (€4,024/m2), followed by San Sebastián (€3,931/m2) and Madrid (€2,925/m2). By contrast, Lleida was the cheapest capital, at €904/m2, followed by Castellón (€936/m2) and Ávila (€990/m2).

Original story: Expansión (by Nayara Mateo Del Cerro)

Translation: Carmel Drake