1. Analysis of the performance during the December quarter
Let’s first start with the national average: price is 1619 €/m²end of December 2018: Spanish real estate prices rose
by +3.9% (+3.1% last quarter) during the last year from 1559€/m²
by +1.8% (+0.1% last quarter) during the last quarter
As you can see the real estate prices increase in Spain is accelerating. On the other side, demand is really strong: we have the highest transaction number for 10 years: 571.000 properties were sold during the last year to September 2018, a 2% year on year growth.
The lowest price reached since the financial crisis of 2007 is 1456€/m² in the third quarter of 2014 while the highest is 2101.4 €/m² in the first quarter of 2008.
What are the regions with the biggest increases and decreases?
The top performers for the December 2018 quarter are:
Valencian Community +2,9%
Coruña (A) +2,3%
Araba / Alava +2,1%
Madrid (Community) +2%
As a reminder, the top performers for the September 2018 quarter were:
Santa Cruz of Tenerife +2.9%
Real city +2.3%
Rioja (La) +2.3%
Balearic Islands +2.2%
Canary Islands +1.9%
The worst performers for the December 2018 quarter are:
Real city -1,9%
The worst performers for the September 2018 quarter were:
Murcia (Region) -2.3%
Coruña (A) -2.2%
Here is the Alphabetical ranking of all the regions real estate price evolution on the last quarter:
2. Yearly real estate price evolution in Spain up to December 2018
Have a look at the Spanish Heat map made with the yearly real estate price evolution
The strongest price increase for the year are:
Madrid (Community) +8,1%
Santa Cruz of Tenerife +4,9%
Rioja (La) +4,8%
Canary Islands +4%
while the top performers up to September were:
Madrid (Community) +8.3%
Rioja (La) +6%
Santa Cruz of Tenerife +5.9%
Balearic Islands +5.2%
Canary Islands +4.7%
The worst performers for the year up to December 2018 are:
Remember, the worst performers for the year up to September 2018 were:
Coruña (A) -2.8%
Here is the Alphabetical ranking of all the regions real estate price evolution for the last year:
3. What are the most expensive real estate markets in Spain end December 2018?
Gipuzkoa real estate prices: 2.680 €/m² vs 2.609 last quarter
The Madrid Community: 2.546 €/m² vs 2.497 last quarter
The Basque Country: 2.376 €/m² vs 2.339 last quarter
Barcelona: 2.360 €/m² vs 2.319 last quarter
Bizkaia: 2.312 €/m² vs 2.294 last quarter
The Balearic Islands: 2.273 €/m² vs 2.263 last quarter
Catalonia: 2.002 €/m² vs 1.961 last quarter
with the National Spanish Average: 1.619 €/m²
4. What are the cheapest real estate markets in Spain end December 2018?
Basin, Real city and Teruel have real estate prices under 800 €/m² last quarter
Jaén, Toledo, Cáceres, Ávila, Estremadura, Zamora, Lion, Badajoz, Castilla-La Mancha, Lugo have real estate prices under900 €/m² last quarter
Albacete, Ourense, Segovia, Murcia (Region) have real estate prices under 1.000 €/m² last quarter
with the National Spanish Average: 1.618 €/m²
5. What are the most active property markets in Spain, last 12 months, up to the 30th of September 2018?
Murcia (Región de)
Ceuta y Melilla
Asturias (Principado de)
Interesting to note, 3 cities/regions have negative growth rate: Las Palmas, The Balearic Islands and Gipuzkoa.
6. Real estate price evolution for all the 18 Spanish regions since 2005 (€/m²)
2014 is the year when we reached the bottom for Spanish property prices.
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 1.618€/m²end of December 2018. 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 which were at 1680€ per square meter.
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:
or the two combined. Depending on what is (are) your own motivation (s) your criteria will be different.
7. Region per Region price evolution from 1995 up to the end of December 2018
Real estate prices inBarcelona: €2.360 /m², +6.9% vs last year
Transactions for the real estate market inBarcelona are growing slightly: 59.751 +1,9%
Prices in Barcelona are on average 40% higher than the national average and rebounded about 15% of 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 inMadrid: €2.546 /m², +8.1% vs last year
Transactions for Madrid are strong: 83.966 +8,2%
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 inSanta Cruz Tenerife: €1.395/m², +4.9% vs last year
Transactions for Santa Cruz de Tenerife are strong: 12.499 +3,9%
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.