The price of used housing in Spain has risen by 8.1% over the last 12 months, placing the value per square meter at 2,042 euros, according to the latest quarterly price index from Idealista. Among the large markets, the city of Alicante leads the ranking with an increase of 17.5%, followed by Málaga (14.1%), València (12.9%) and Palma de Mallorca (12%).
It so happens that the first three recently appeared in a survey, disseminated internationally by Forbes magazine, as the three cities in the world most valued by foreign residents to live in. And the affordable price of housing, especially in the case of Alicante, was a primary factor.
In fact, despite this strong increase, more than 4% in the last quarter, there are still 16 provincial capitals in Spain with the square meter more expensive than Alicante, which is still below 2,000 euros (1,915 euros), according to data made public today by the Idealista real estate portal.
Valencia is not in the TOP-10 of most expensive capitals either, it is eleventh, with 2,287 euros per square meter of used housing. And the price increase has slowed down in the last quarter (-0.06%).
By provincial capital, none have seen the price of used housing decrease in the last 12 months. In the Idealista index, Soria leads the price increases, after increasing by 23.1% in the last year. They are followed by Santa Cruz de Tenerife (20.9%) and Huesca (18.5%)
With more moderate increases are cities such as Madrid (6.1%), San Sebastián (4.6%), Seville (4.2%), Barcelona (2.6%) or Bilbao (2.3%). The smallest increases have occurred in Zamora (0.1%), Tarragona (1.4%), Vitoria (1.8%) and Córdoba (1.8%).
San Sebastián, with 5,365 euros per square meter, is the most expensive Spanish capital in Spain, followed by Barcelona (4,167 euros per square meter), Madrid (4,118 euros), Palma (3,877 euros) and Bilbao (3,241 euros). On the opposite part of the table is Zamora, as the cheapest provincial capital, with a price of 1,118 euros.
Idealista also highlights that all the autonomous communities register higher prices than 12 months ago. The greatest increase has occurred in the Canary Islands, where owners’ expectations have increased by 15.9% during 2023. This is followed by the Balearic Islands (12.7%), the Valencian Community (11.3%), Andalusia (9.9%). % and Murcia (9.8%).
Below the national average are the promotions of Navarra (7.6%), Aragón (6.3%), La Rioja (5.4%), Cantabria or the Community of Madrid (4.8% in both cases ). The smallest increases have occurred in Extremadura (1.7%), Catalonia (1.9%) and Asturias (2.1%).
Balearic Islands, is positioned in the Idealista index as the most expensive autonomy, with 4,083 euros per square meter, which is the highest price since the portal has records. They are followed by Madrid (3,208 euros), the Basque Country (2,864 euros), the Canary Islands (2,432 euros) and Catalonia (2,339 euros).
On the opposite side of the table is Castilla-La Mancha (917 euros per square meter), Extremadura (959 euros) and Castilla y León (1,176 euros), the most economical communities.
