House prices in Spain are 4.1% higher at the end of 2023 than at the end of 2022According to statistics published this Friday by the country’s main appraiser Tinsa. This means that a typical house of 80 square meters costs from around 134,000 euros to over 141,000 euros (1,767 euros per square meter). In general, considering the average of the monthly data series, the annual increase in prices was as follows: 5.1% average throughout the region.
Despite the annual increase, housing prices are still high below the highs reached during the real estate bubbleThese rates, which broke out between 2007 and 2008, are notably 18.4% lower. But the average value is up 38.4 percent from the lowest levels recorded in recent years after the end of the financial crisis, after rising 1 percent in the last quarter.
In which regions did prices increase the most?
According to Tinsa, Navarre The region where prices increased the most was the autonomous community with 9.6%.; This is followed by the Balearic Islands (8.1%), the Valencian Community (7.5%), Castilla-La Mancha (7.3%) and La Rioja (6.8%). Although prices increased in all regions, Ceuta (0.2%), Murcia (1.8%), Asturias (2%), Castilla y León (2.5%) and Cantabria (2.8%) were among those that did the least. taking. By region, the interior of the peninsula offers lower altitudes than the Mediterranean arc, most of Andalusia, the archipelago and southern Galicia.
When examined by province, in addition to Ceuta (autonomous city), Palencia The place where housing increased the least was only 0.6 percent.. At this end of the ranking are also inland provinces such as León (1.3%) or Soria (1.2%) and the Atlantic and Cantabrian coasts such as A Coruña (1.4%) or Guipúzcoa (1.3%). . On the contrary, Guadalajara has 12.1%, along with Almería (9.5%), Santa Cruz de Tenerife (9%), Ourense (8.2%), the Balearic Islands (8.1%) and Alicante (7.8%). It was the place with the highest increase. %) or Valencia (7.6%), in addition to the above-mentioned Navarra.
Also by state capitals Guadalajara posted double-digit increases along with Valencia16.8% and 10.6% respectively. Almería (9.6%), Santa Cruz de Tenerife (9.1%), Málaga (9%), Lleida (8.8%), Logroño (7.8%), Pamplona (7.6%), Ávila Significant increases were also recorded in (7.5%). ) and Lugo (7.5%). On this scale, price decreases were recorded in two cities: 0.8% in Las Palmas de Gran Canaria and 3.1% in Palencia.
In which regions are housing prices highest and lowest?
Madrid remains the region and province with the most expensive housing prices The country’s 2,975 euros per square meter is equivalent to paying 238,000 euros for an 80 square meter flat. However, in the ranking of cities San Sebastián is located aboveThe average price per square meter is 4,225 euros, compared to 3,780 euros in the capital of Madrid. Completing the list of the most expensive state capitals were Barcelona (3,714 €/m2), Bilbao (2,757 €/m2) and Palma de Mallorca (2,710 €/m2).
In autonomous communities, Balearic IslandsAt an average price of 2,871 euros per square meterThe Basque Country is ahead of Catalonia with 2,337 and 2,232 euros per square meter. At the provincial level, Barcelona rose to second place with a price of 2,507 euros per square meter, while Guipúzcoa and Vizcaya recorded 2,460 and 2,399 euros respectively.
At the opposite end The only community with an average price below 1,000 euros per square meter is Extremadura. Castilla y León, La Rioja, Murcia and Castilla-La Mancha for less than 1,100 euros are also on the list. At the provincial level, Lugo, Soria, Jaén, Cáceres, Zamora, Cuenca and Ciudad Real are the most accessible; According to Tinsa statistics, at the local level this title belongs first to Zamora, followed by Cáceres, Lugo, Soria or others that are not in the state rankings, such as Ciudad Real or Castellón or Ávila.
The Balearic Islands are the only place where prices are higher than those of the bubble
Islands Balearic Islands and their capital Palma de MallorcaThe only two places in the national territory where house prices are increasing exceeds the maximum recorded value housing bubble5.3% and 1.8%, respectively. Ceuta and Melilla are below the historical record high at 1.1% and 6.1% respectively, while the province of Ourense is also 5% lower. Based on the current situation, the next states to achieve this were the province of Santa Cruz de Tenerife (-8.2%) and the Community of Madrid (-8.9%).
Castilla La Mancha and Murcia are the two regions where prices are furthest from their historical highs, at 37% and 36.0%. In the case of the Mediterranean community, this is where the least increase has been seen since the later historical declines (only 15%). At the provincial level, Cuenca, Castellón, Tarragona, Lleida and Toledo are also far from the maximum values, and at the provincial capitals the municipalities of Soria, Segovia, Lleida and Ciudad Real are on the list. The cities where prices increased the least by less than 10 percent compared to the minimum levels reached after the crisis were Ciudad Real, Ourense, Jaén, Zamora and Palencia.