16 Apr
2018

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The top 20 Spanish real estate markets

Here is a summary of all our resources that we have created on the 20 biggest Spanish cities in order to help you be more efficient in your search for your ideal property in Spain.

First, we will show you the official price evolution from the Ministerio de Fomento since 2005 and up to December 2017 for the main regions, then you’ll find at the end of the paper all the resources we have per region.

Let’s first start with the national average: 1559 EUR/m² (vs 1512 one year ago.)

Here is the real estate price evolution for all the 18 Spanish regions since 2005 (€/m²):

As you can see on this chart, Spanish real estate prices (thick orange line) got its lowest price point in early 2014 since the crisis of 2008. Since early 2014, real estate prices are rising and reached 1559€/m² as of December 2017. If you look at prices in general, yes we can talk again about growth but if you compare those to the levels of 2008 or to European real estate prices, you can still find bargains. Furthermore, real estate prices remain lower than the prices of early 2005 at 1680€ per square meter.

What are the most expensive real estate markets in Spain the 1st of January 2018?

The Basque Country: 2387 EUR/m²
The Madrid Community: 2355 EUR/m²
The Balearic Islands: 2205 EUR/m²
Catalonia: 1893 EUR/m²
Ceuta and Melilla: 1614 EUR/m²
National Spanish Average: 1559 EUR/m²

The 3 winning regions since 2014

The market in Spain is divided into two groups since 2014: the regions with rising prices: Barcelona, Madrid and the Balearic Islands and all the other regions where the prices have stabilized or are increasing modestly.

Is it easy to buy in Spain?

It is really easy to buy a property in Spain but:

because you are not on the ground,
because you don’t know the market and
because you need to check your property in order to avoid any nasty surprise, we advise you not to do it alone.

We are foreigners and Spanish residents who bought properties in Spain and we developed a network of reliable partners in order to assist foreigners in their purchases of a Spanish property.

Don’t forget, if you are buying in Spain as a foreigner, you could have two different motives:

Pleasure
Investment

or the two combined. Depending on what is (are) your own motivation (s) your criteria will be different.

Price reality check from 1995 up to 1st January 2018

Real estate prices in Alicante: €1.253 /m², +1.6% vs last year

Prices in Alicante remain on average 20% lower than the national average and close the lowest reached since the crisis of 2008.

Real estate prices in Almeria: €1.089 /m², -1.6% vs last year

Prices in Almeria remain on average 25% lower than the national average and close the lowest reached since the crisis of 2008.

Real estate prices in Barcelona: €2.208 /m², +6.4% vs last year

Prices in Barcelona are on average 40% higher than the national average and rebounded about 15% from the lowest levels reached since the crisis of 2008. If you take into account the number of transactions, Madrid and Barcelona are the two strongest markets.

Real estate prices in Cadiz: €1.292 /m², +2.8% vs last year

Prices in Cadiz remain on average 15% lower than the national average and close the lowest reached since the crisis of 2008.

Real estate prices in Castellon: €1.041 /m², -0.7% vs last year

Prices in Castellon remain on average 30% lower than the national average and close the lowest reached since the crisis of 2008.

Real estate prices in Girona: €1.524 /m², +2.1% vs last year

Prices in Girona followed the national prices as if Girona was the national market really funny! Check these two charts!

Real estate prices in Ibiza: €2.205 /m², +6.5% vs last year

Prices in the Balears recovered strongly from the lows since 2008 (+15%) and are on average 40% higher than the national average.

Real estate prices in Las Palmas de Gran Canaria: €1.428 /m², +3.9% vs last year

Prices in Gran Canaria remain on average 10% lower than the national average and rebounded by 10% of the lowest levels seen since 2008.

Real estate prices in Madrid: €2.355 /m², +6.9% vs last year

Prices in Madrid are leading the charge and are 45% higher than the national average. They rebounded by about 13% from the lowest levels seen since 2008. If you take into account the number of transactions, Madrid and Barcelona are the two strongest markets.

Real estate prices in Málaga: €1.650 /m², +3.9% vs last year

Prices in Málaga are about 8% higher than the national average and rebounded by a little bit more than 10% from the lows seen since 2008.

Real estate prices in Palma de Mallorca (Balearic Islands): €2.205 /m², +6.5% vs last year

Real Estate prices in Mallorca are 40% higher than the national average and rebounded by 15% since 2008.

Real estate prices in Murcia: €990 /m², +2% vs last year

Property prices in Murcia are about 35% under the national average. They remain at the lowest levels seen since 2008.

Real estate prices in Santa Cruz Tenerife (Canary Islands): €1.428 /m², +3.9% vs last year

Prices in Tenerife rebounded by more than 10% since the bottom of the period between now and 2018 but remain on average, 15% lower than the national average. The weather is more stable during the winter months but yes, your flight is a little bit longer.

Real estate prices in Sevilla: €1.262 /m², +4.4% vs last year

Real estate prices in Sevilla are 20% lower than the national average and close to the lowest prices seen since 2008.

Real estate prices in Valencia: €1.093 /m², -0.2% vs last year

Have a look at the feedback of our real estate citytrip to Valencia, April 2018.

Real estate prices in Valencia are about 25% under the national averages. At the same time, it is the third city in Spain in terms of inhabitant! A bargain to check quickly?

Real estate prices in Valladolid: €1.198 /m², +2% vs last year

Prices in Valladolid are more than 20% under national averages and at bottom of prices reached during the last 10 years.

Real estate prices in Zaragoza: €1.261 /m², -0.4% vs last year

Zaragoza real estate prices are about 20% lower than national averages.

Source: Ministerio de Fomento

Have a look at the resources we have written on those Spanish Cities

Alicante

Our article on Alicante: Alicante: the Spanish pearl
Check the monthly weather statistics for Alicante
Check our Citytrip ePostcards on Alicante
We have the experts: Lawyers, Property hunters, Architects, Banks from our network of local partners to assist you in your language
Follow this link to ask for one of our local experts

Almeria

Barcelona

Our article on Barcelona: Barcelona real estate market is rising in 2017
Check the monthly weather statistics for Barcelona
Check our Citytrip ePostcards on Barcelona
We have the experts: Lawyers, Property hunters, Architects, Banks from our network of local partners to assist you in your language
Follow this link to ask for one of our local experts

Bilbao

Cadiz

Castellon

Girona

Ibiza

Las Palmas de Gran Canaria

Our article on Las Palmas de Gran Canaria: Gran Canaria, the tropical gem of Spain
Check the monthly weather statistics for Las Palmas de Gran Canaria
We have the experts: Lawyers, Property hunters, Architects, Banks from our network of local partners to assist you in your language
Follow this link to ask for one of our local experts

Madrid

Málaga

Palma de Mallorca

Our article on Palma de Mallorca: Mallorca, a paradise in the middle of the Mediterranean
Check the monthly weather statistics for Mallorca
We have the experts: Lawyers, Property hunters, Architects, Banks from our network of local partners to assist you in your language
Follow this link to ask for one of our local experts

Murcia

Santa Cruz Tenerife

Sevilla

Sitges

Valencia

Valladolid

Zaragoza

Find our detailed maps and articles on the Spanish Costas here.

Check our reports on the Spanish market before buying your property in Spain:

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Looking for an expert in Spain? Ask us directly!

Stéphane

Senior analyst and strategist at HTBIS

Check the full HTBIS team here

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