Over the past year, property prices in Spain have increased by 12.6%; on the other hand, they fell in 7 provinces. In which have they fallen the most?
The average price of housing in Spain currently stands at €2,278/m2, which represents an increase of 12.6% over the last 12 months and 4.3% quarter-on-quarter.
Concretely, to buy a residential property in Spain, which has around 48.8 million inhabitants, according to data from the National Statistics Institute, you have to pay on average €382,229, with housing on the market measuring around 168m2.
However, housing prices have not increased in the same way in all regions of our country. Indeed, while in the provinces of Santa Cruz de Tenerife, in the Canaries, Madrid and Malaga, in Andalusia, the price increased by more than 14% in annual comparison, it fell in 7 provinces.
In which 5 Spanish provinces have housing prices fallen the most over the past year?
5- Salamanca
In Salamanca, Castile and Leon, housing prices fell by 1.4% on an annual basis and by 1.6% compared to the previous quarter, reaching €1,226/m2, according to data from Brains Real Estate.
In this province, the cost of a property amounts to €163,209, with houses or apartments for sale having an average surface area of just over 133m2.
However, in Salamanca, the price of new homes has increased by 46% over the last 12 months, reaching an average of €1,813/m2. Likewise, prices increased by 8.2% on a quarterly basis.
On the other hand, the marketing duration, that is to say the period that a property spends on the market until it is sold, is approximately 6.9 months, or 9, 1% more than a year ago and 1.9% more than the previous quarter.
4- Teruel
In Teruel, Aragon, house prices fell by 2.2% year-on-year and by 5.1% quarter-on-quarter, to €595/m2.
Concretely, the purchase of real estate in Teruel involves an expense of €126,921, because the properties for sale measure more than 213m2.
Furthermore, in this province, the price of new housing increased by 19.5% over the past year, reaching €1,805/m2. However, the price fell by 3.9% quarter-on-quarter.
The average publication time, meanwhile, is around 8.9 months, which is 7.5% more than 12 months ago and 1% more than 3 months ago.
3- Jaen
Currently, the price of housing in Jaén stands at €763/m2, which represents a drop of 2.3% per year and 0.6% per quarter, according to data from the Brainsre platform.
To buy housing in Jaén, Andalusia, you have to pay €124,028, because the apartments or houses on the market have a surface area greater than 162m2.
However, in Jaén the price of new housing reaches 1,490€/m2, which represents an increase of 60.2% compared to the previous year and 20.8% compared to the previous quarter.
On the other hand, the publication time is around 5.8 months, which is 14.7% less than 12 months ago and 6.9% less than 3 months ago.
2- Orense
In Ourense, house prices fell by 4.1% year-on-year and by 3% quarter-on-quarter, reaching €878/m2.
In this Galician province, purchasing a residential property costs €154,122, as the houses for sale measure more than 175m2.
Furthermore, the price of new constructions in Orense fell by 15.9% compared to last year and by 26.5% compared to the previous quarter, reaching €1,772/m2.
In this area, the publication time is greater than 7.8 months, or 12.1% less than 12 months ago and 5.1% less than 3 months ago.
1- Zamora
Zamora, in Castile and Leon, is the province of Spain where housing prices have fallen the most year-on-year, notably by 7.5%, to reach €777/m2. Prices also fell 5.5% quarter-on-quarter, according to data from Brains Real Estate.
In Zamora, the acquisition of real estate represents an expense of €118,498, the homes put up for sale having a surface area greater than 152m2.
However, the price of new homes in Zamora increased by 1.4% compared to 12 months ago, reaching €1,162/m2 (unchanged from the previous quarter).
Finally, the publication time in this area is more than 8.4 months, or 9.6% more than a year ago and 2.6% more than in the previous quarter.
Source : Brainsre
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